Maitland Partnership & Shareholder Disputes & Dissolutions Attorney
Individuals do not always have the same idea about what is right for the business. Differing opinions can make a company stronger, and they can also tear it apart. If a conflict between partners or shareholders turns into a major source of conflict, it may be time to seriously consider the future of certain individuals within your business entity. The Maitland partnership & shareholder disputes & dissolutions attorneys at The Hornsby Law Group can help you address disputes head-on before they cause more damage to your bottom line.
Common Internal Disputes
Below are some of the major sources of conflict between partners or shareholders.
- Major differences in opinion about the business’s future
- Abandonment of responsibilities
- Breach of fiduciary duties
- Violations of intellectual property rights
- Breach of partnership agreement
- Breach of shareholder agreement
- Majority/minority shareholder conflicts
- Unfair compensation
- Misappropriation of business assets
While the dispute you are currently engaged in may seem impossible to solve without dissolving your business, we encourage you to hold out hope and discuss your options with an attorney. However, some of these differences, such as fraud or misappropriation of corporate assets, simply cannot be worked out in some cases, and the best solution may be to dissolve the business or buy out certain individuals. An outright buyout is difficult for most small businesses, as they do not have the liquid assets to make this possible. As such, partial liquidation of the business may be necessary.
We Find Solutions to Complex Business Problems
If the time for negotiation and mending broken relationships between partners or shareholders has come and gone, it may be in your best interest to dissolve the business or buy out partners. Your options may include the following:
- Create a new partnership agreement that amends ownership
- Buyout the partners’ or shareholders’ interests
- Create a payment plan for the buyout. This may require partial liquidation of the business assets
- Business dissolution, which involves equitable distribution of liquidated assets
Dissolving a business is usually not as simple as closing up shop and termination your lease on the building. If you choose to dissolve your business, you are required to file articles of dissolution with the state of Florida if the business is an LLC or other type of corporation. We can help you with this process, in addition to dividing business assets appropriately among partners or shareholders.
Call a Maitland Partnership & Shareholder Disputes & Dissolutions Attorney Today
In the beginning, it probably seemed like nothing could ever go so wrong that you had to consider dissolving your business and going separate ways with your partners or shareholders. Unfortunately, major disputes are a normal part of owning a small business, and it is important to cut your ties at the correct time. We can help with buyouts, dissolution of the business, and litigation if the parties cannot agree on how to move forward. We encourage you to call the Maitland Partnership & Shareholder Disputes & Dissolutions attorneys at The Hornsby Law Group today to schedule a free consultation.