Partnership Dispute Lawyer in Stuart
Shareholders and partners in small, closely-held entities often memorialize their business relationships with corporate by-laws, shareholder agreements, partnership contracts, or LLC membership agreements. Even the best of those agreements, however, might not anticipate every issue that arises in the management and administration of a small company.
Partners, members, or shareholders of private closely-held Florida companies who find themselves at odds with other company owners should contact the Law Offices of Travis R. Walker for advice on resolving shareholder and partnership disputes. A knowledgeable and experienced business lawyer in Stuart, FL can make sure your rights are protected and your best interests are represented.
What types of disputes can arise in a partnership or corporate entity?
Partnership disputes generally revolve around a few common issues:
- The partners do not agree on whether or how to distribute or allocate profits
- The authority of individual partners to make decisions or to take actions on behalf of the partnership
- The value of a partner’s interest in the partnership when the partner wants to leave or sell his or her shares to a third party
- Whether new partners are allowed to join the partnership
What remedies are available in shareholder or partnership litigation?
Parties in a partnership entity generally owe a higher fiduciary duty to each other and the entity than the lower contractual obligations that might be owed among shareholders of a corporation or members of an LLC. Majority shareholders also owe a fiduciary obligation to minority shareholders with respect to the finances and management of a closely held corporation.
A shareholder dispute lawyer will often begin an analysis with a clarification of the form of entity that is at the heart of the dispute and the relative ownership interests of each party involved in the dispute.
Thereafter, potential remedies might include:
- Money damages for corporate mismanagement or wasting of assets
- Equitable reformation of the entity to more accurately reflect its management and administration
- An order to allow a minority shareholder to inspect the financial books and records of the entity, which might include an award of costs and fees associated with the inspection
- An order enforcing a buyout by one shareholder at a price established by the court per the prevailing partnership, shareholder, or membership agreement.
Are there alternative methods of resolving partnership disputes?
Shareholder dispute resolution might be possible through arbitration or mediation, rather than through a lawsuit if all parties to the dispute consent to those alternatives. Arbitration or mediation may offer the advantages of privacy, confidentiality, and lower cost, but present potential disadvantages that include a lack of transparency and stronger potential for bias by the arbitrator or mediator.
Contact the Law Offices of Travis R. Walker in Stuart, Florida
The attorneys at the Law Offices of Travis R. Walker represent partners, shareholders, and members of closely-held entities when disputes arise in Stuart, Martin County, and elsewhere along Florida’s Treasure Coast.Our goal in every partnership and shareholder dispute is to provide the strongest advocacy for our clients’ interests and to protect their investment of time and resources into the closely-held entity that is at the center of the dispute.
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