When a business is formed, original partners are typically focused, dedicated and collaborative. Like partners in marriage who cannot fathom an eventual divorce, so too, business partners rarely anticipate serious disputes amongst each other down the road.
In our business law practice, we find that disputes often arise in businesses that are well-established, long past the optimistic beginnings of the early days. Our business clients often confide to our lawyers in disbelief, “The person I trusted the most is stealing from me and bringing the business down.” We can help. Contact us to discuss your partnership as soon as possible for best results.
Our New Jersey business lawyers would like to help save your business partnership if that is desirable. But more often than not, by the time a partnership dispute comes to our attention, the damage is already done and the next goal is to assist our clients in getting out of the business or completing a business divorce with as many personal assets intact as possible.
Describe Your Partnership Dispute
Common partnership dispute scenarios include the following:
- One partner is believed by the other to be misappropriating funds that rightfully belong to the business.
- Family members who have inherited a business from a parent or grandparent disagree on how to operate or grow the business.
- A business owner dies without a will, leaving commercial real estate deeded to family partnerships with poorly defined roles and weak governance provisions.
- One family member believes that another family member is “ripping off” the rest of the clan after a business has passed to the next generation.
- Second generation family owners do not get along with long-standing non-family partners in the business.
- One business partner begins to “borrow” from business funds and applying those funds to personal use.
- Family or not, a business partner abuses the business as he or she proceeds down the path of gambling or drug abuse.
- Partners claim breach of contract or violation of verbal agreements against each other.
Before your New Jersey business partner succeeds in bringing the business to its knees while pilfering profits on the side, contact Kaufman, Semeraro, & Leibman, LLP to schedule a consultation with a Fort Lee attorney.