A solid partnership with a fellow entrepreneur, investor, or innovator is often the key to business success. But when things go south, a partnership dispute can threaten your ongoing business relationships, your intellectual property, your reputation, and even your livelihood.
While no one goes into business with a partner thinking it will end in a dispute, it is important to take decisive and intelligent action to protect your business interests while seeking the best possible outcome to the situation, which can include negotiation, mediation, arbitration, litigation, or simply dissolving the partnership.
The business litigation team at LawPLA works with businesspersons and ventures of all sizes and across industries in reaching positive outcomes for clients, using intelligent, cost-effective approaches to win the best possible results.
Understanding Your Partnership Rights and Obligations
Often, the first and most important step in a potential partnership dispute is understanding what each partner’s rights and obligations to one another (and to third parties) under the partnership agreement. In some cases, there may not be a formal, written partnership agreement, but California law will still impose such rights and obligations on the partners, and our legal team can help you understand your legal positioning and work with you to develop strategies to overcome obstacles and protect your interests.
Whether your partnership is a general partnership, limited partnership, or limited liability partnership, we will help you gain a comprehensive understanding of your options and next steps.
Litigating Partnership Disputes
When partnership disputes are intractable, our legal team will represent you in pursuing litigation to protect your business and personal interests in all aspects of your partnership business, including:
- Rights to control and manage the partnership
- Rights to profits and income from the partnership
- Ownership of intellectual property and other partnership assets
- Contractual arrangements between partners as well as third parties
- Indemnification rights against partners
- Liability for claims brought by third partners
- Rights to dissolve the partnership
- Liability for debts owed by the partnership
Mediating Partnership Disputes
Our legal team always puts the interests of our clients above our own, and so we seek cost-effective, long-term solutions whenever possible. Thus, we will seek a range of solutions which limit your legal fees, delay to your business ventures, and other collateral impact. One solution is to attempt to mediate your partnership dispute outside of court, and our team will represent you and provide counsel throughout this process to attempt to reach a mutually beneficial outcome.
Dissolution of Partnerships
Should the result of your dispute be a dissolution of your business partnership, our legal team can represent you to make sure that your rights are protected and your interests furthered throughout the process, including all issues relating to profits, assets (including intellectual property), debts, and so on.
Contact a Los Angeles Partnership Dispute Attorney Today
If you are facing a partnership dispute, or believe you may be facing a partnership dispute in the near future, work with the business litigation team at LawPLA to comprehensively address your concerns and understand your potential rights and obligations. Contact LawPLA today to schedule a consultation to discuss your partnership dispute matter.