Are you operating your business in partnership, or as a co-shareholder and director with others?
Types of “partnership” agreementsDisputes can arise at any time between you and your business partners which is why it is essential that at the outset you have one or more of the following documentation in place:
- A Partnership Agreement if you are in a true partnership
- A Shareholder Agreement if you are a co-shareholder and director in a company structure
- A Unitholder Agreement if you hold units in a Unit Trust with your business “partner”’
- A Joint Venture Agreement if the relationship with your business “partner” is indeed a joint venture.
Business partnerships are like marriages – so get a “business pre-nup”Business partnerships are rather like marriages because disagreements and personality issues may arise in the commercial environment as they can do in the household and that is why it is good practice to have the parties enter in one or more of these agreements, sometimes referred to colloquially as “business pre-nups”.
Even if you have such agreements in place, disputes can arise about their interpretation and legal effect and at this point you need will need advice to manage and hopefully resolve the dispute.
How we can helpWhether your business has been structured as a partnership, a company, a trust, a joint venture or a combination of these we have the required skills to explain to you the various legal methods to resolve these business disputes.
Such methods may include:
- negotiations between the partners directly but with legal advice and assistance in the background
- direct negotiations between lawyers acting for each partner
- mediation or alternative dispute resolution
- appointing a receiver
- court proceedings.
Partnership disputes can be complex and hard fought. You need someone with not only legal expertise but commercial experience to deal with the dispute as quickly and as efficiently as possible so that you can get on with doing what you do best – running your business.