Hone Law

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At Hone Law, your partnership dispute attorney will work with you to overcome partnership disputes, meet your goals and objectives, and resolve conflicts in the best interest of your business.

We’ll use resolution strategies and dispute management to solve fundamental disputes that can impact your partnership.

If you and your partner have disputes that you cannot resolve among yourselves or you want to speak to an attorney about the extent of the dispute, we’re here to help.

Contact us to solve your business disputes.

What Defines a Partnership Dispute?

Over 365,000 businesses operate in Nevada, many of these business partnerships may have disputes. Disputes are common in business, and provisions are often put in place to avoid conflicts.

If a disagreement is serious enough, it can lead to lengthy, costly business litigation.

Common disputes for partnerships are often fundamental to the business’s operation and include:

  • Breach of Fiduciary Duty: Partners have a fiduciary duty to act in the best interest of the business. If this trust is broken, it is a common reason for disputes and can lead to the dissolution of a company. For example, if one partner mismanages the business’s finances and starts using the funds for their own personal expenses, this is a breach of fiduciary duty.
  • Fraud: Common white-collar crimes that a partner commits can cause disputes, such as tax or securities fraud.
  • Concealing Information: Partners may conceal information from one another, such as not divulging key issues with a product or service or neglecting to alert them to a conflict of interest they have as part owner of a main competitor.
  • Negligence: Partners can act negligently, causing damage to the partnership and the business in the process.

Partners can also have disputes over your vision of the company. If you cannot resolve these disputes among yourselves, it may be worth working with a partnership dispute attorney who can help you come to an agreement.

Disputes can arise for any reason, and when they’re bad for business, negotiation may be your best step forward.

If your partner is not working in the best interest of your partnership and it’s starting to negatively impact your business, taking swift, immediate action is best.

Immediate Actions to Take in a Partnership Dispute

When a partnership dispute arises, taking immediate action can help prevent escalation and preserve partnership relationships. Because you are searching for legal advice, you have likely explored every option of working it out partner to partner and that strategy no longer seems like a tenable option.

Once you reach that point, one of the first steps to take is to consult an attorney who can help you understand potential paths forward and help you resolve the matter.

The next steps may involve:

  • Negotiations that focus on solutions.
  • Mediation or alternative dispute resolution.
  • Litigation

Your attorney will provide legal counsel and help you find the best strategy to resolve the dispute while also protecting your rights and interests.

If you’re dealing with a partnership dispute, contact us today to discuss your options and needs.

FAQ

What are the Possible Outcomes of Partnership Litigation?

There are several potential outcomes of partnership litigation, including but not limited to:

  • Settlement: A negotiated settlement is the most common resolution and often is the preferred resolution. Both partners negotiate and come to an agreement that’s tailored to address their specific needs.
  • Restructuring Roles: Depending on the nature and circumstances of the dispute, both parties may agree that an adjustment in roles and responsibilities is the best solution.
  • Dissolution of the Partnership: If partners cannot come to a resolution, dissolving the partnership may be the last resort. Dissolution may be ordered by the court, or partners may agree to this resolution amicably.
  • Financial Compensation: A financial settlement may be another resolution. In this case, one partner may compensate another for grievances or buy out their share.
  • New Agreement: Partners may agree to create a revised partnership agreement that alters the management of the business, profit sharing or operations.
  • Court-Ordered Resolution: If litigation is the only option, the court may determine the resolution.

How Can an Attorney Help Resolve My Partnership Dispute?

When it comes to partnership disputes, effective legal counsel is crucial. A partnership dispute attorney can help guide partners toward a favorable outcome by assisting with:

  • Developing a legal strategy. An attorney can help partners understand their options and prepare strategically for litigation or negotiations.
  • Support and guidance during negotiations. An attorney will protect your rights and interests throughout negotiations while working toward a favorable resolution.

Disputes among partners can have significant and long-term effects on a business. To achieve a favorable outcome, you need the guidance of a forward-thinking, innovative and well-rounded business law firm.

At Hone Law, we bring years of litigation experience to the table, but we also bring a true multipoint perspective and a client-focused approach. Every dispute is unique, which is why we deliver our clients a tailored litigation experience.

Helpful Links

Breach of Fiduciary Duty Shareholder Disputes Contract Disputes Business Litigation