Switch to ADA Accessible Theme Switch to ADA Accessible Theme
Close Menu
Tampa Business Litigation Attorneys / Tampa Partnership Dispute Attorney

Tampa Partnership Dispute Attorney

There is a common saying that a business partnership is similar to marriage, and it is accurate. Like in a marriage, disputes can arise in a business partnership and they can damage the business or result in the dissolution of the partnership. Still, with careful planning, business partners can prevent these harmful outcomes. Ideally, partners will have a written agreement in place before the partnership is officially formed, which can prevent disputes and outline how to resolve them. Our Tampa partnership dispute attorney explains more below.

Partnership Agreements

Anyone considering forming a partnership should first draft a partnership agreement. Many people think that if they partner with a family member or spouse, a formal agreement is not necessary. In fact, partnership agreements become even more important in these situations.

Communication is essential to any partnership. A partnership agreement makes it easier for partners to communicate with each other. Each partner should have a clear understanding of how business assets are handled, as well as the opportunities and liabilities of the business. Additionally, partnership agreements should also specify certain roles, and outline a plan if the business changes partners or if the business closes.

Common Partnership Disputes

There are many different types of partnership disputes, but some are more common than others. Some of the most common reasons for partnership disputes are as follows:

  • Ownership and equity disputes, such as the percentage of the business each partner owns, changes in ownership structure, and distribution of profits
  • Decision-making disagreements, includes disputes regarding the daily operations of the company, management roles, and decision-making authority
  • Breach of fiduciary duties, such as the mismanagement of company assets and conflicts of interest
  • Contractual disputes involving operating agreements, partnership agreements, and other contracts
  • Dissolution issues including the dissolution of a partnership, exit of a partner, and how assets and liabilities are distributed

How to Resolve a Partnership Dispute

In most cases, it is better to resolve a partnership dispute than dissolve the business relationship. Before any legal action is taken, it is recommended that all partners consider the other side of the argument and try to communicate effectively. When partners can do this, they may be able to negotiate an agreement. For example, if one partner breached the partnership agreement because they thought part of it was unfair, the other partners may agree to amend that portion of the contract in exchange for receiving compensation for the losses they incurred as a result of the contractual violation.

When partners cannot resolve a partnership dispute on their own, they may have to take the matter to court. If litigation is necessary, a judge will listen to both sides and take many factors into consideration before making the final decision.

Our Partnership Dispute Attorney in Tampa Can Advise On Your Case

Partnership disputes are very damaging to a business. At BBDG Law, our Tampa partnership dispute attorney can negotiate with the other side and if necessary, represent you during litigation. Call us today at (813) 221-3759 or fill out our online form to schedule a consultation and to learn more.