Partnership Disputes
Partnerships are a common business vehicle. Many small businesses take the form of partnerships as they are more flexible and easier to manage than other types of company.
Partnerships may offer an easy way of establishing and running a business, but they are, to a large extent, dependent on the relationship between the partners. If a business or personal relationship goes sour, then it may be necessary to seek legal advice. As mediators and solicitors, we can assist you in reaching an amicable solution at the earliest opportunity. If you would like advice on resolving or avoiding a partnership dispute, contact us now.
If a partnership agreement exists, then the terms of that may well govern what is to happen in the event of a dispute. If the partnership agreement is silent on a particular issue, or there is no agreement in place, then the various Partnership Acts (the Partnership Act 1890, the Limited Partnership Act 1907, and the Limited Liability Partnerships Act 2000) will fill in the gaps.
Partnership disputes arise for many reasons, but the most common are: breaches of the partnership agreement; breach of one partner’s duties to the partnership; a breach of their legal duties; or when one partner is felt by the other(s) to be taking an unfair share of the profits. Even a disagreement over the day-to-day running of the business can turn into a partnership dispute.
These events may lead to one or more partners attempting to expel the offending partner or by leaving the firm themselves. If the dispute cannot be resolved, then it may be necessary to dissolve the partnership. In many cases, the remaining partners will want the business to continue. At J L Lezemore Solicitors, we can advise on the best course of action. As an accredited mediator, Joanne Lezemore can assist you and your partners in reaching an amicable settlement, helping you to avoid lengthy and costly court action. Contact us today.
Contact J L Lezemore Solicitors covering Hertfordshire and Essex
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