Heritage Law Group
If You're Experiencing Any of These Common Partnership Disputes, Hire a Business Lawyer Immediately
There are nearly 28 million small businesses in the U.S., and it's no secret that commercial laws and bylaws can be exceedingly complex. And things only get more complicated when you get into a partnership dispute that could impact your company's future if not handled correctly. Here are just a few examples of commercial disputes involving partnerships that are typically best handled with the help and experience of client-focused business lawyers.
Non-Compete Agreement Violation
It's not uncommon for business partnerships to use non-compete agreements in order to help protect the business from unfair competition. If someone uses confidential knowledge gained in one business and uses it as a direct competitor, this may be a violation of the non-compete agreement, and business litigation may be required. Make sure you understand all bylaws and hire a business lawyer if necessary.
Breach of Contract
Contracts exist in the business world for countless reasons, and they come in both written and verbal forms. When terms defined in the contract aren't followed, the contract is said to be breached. Breach of contract is considered to be the most common type of business dispute, and it almost always requires the help of an experienced business lawyer.
It's no secret that business partnerships have access to specialized funds restricted to other business types. Taking money from these funds and using them for any type of personal reason is considered embezzlement, a very serious crime. In addition to being a type of business partnership dispute, those found guilty of embezzlement often receive jail time.
Minority Ownership Rights
Finally, most people understand that a business can have multiple owners, and just because an owner doesn't own the majority of the company doesn't mean they have no rights when it comes to the decision making process. If you're a minority owner of a business and your rights are violated, a business lawyer can come to your defense and make sure you get the compensation -- financial or otherwise -- that you may be entitled to.
There are 1,315,561 lawyers in the United States, and these are just a few types of disputes a business lawyer can help you resolve. For more information about how to resolve disagreements in the business world, contact Heritage.