Starting a business is not easy, and establishing it with someone else doesn’t necessarily make it any easier. You’ll need to make partnership agreements and set unified goals. Prioritizing values and combining strategies is vital to your new company’s success. Having the courage and communication skills to state when a partner’s idea isn’t working is a must. Just like any other relationship, you are bound to argue at one point or another. A business partnership attorney can offer unbiased objectivity and hold you and your partner accountable. Davis, Ermis, and Roberts can guide and advise you through all the agreements, complications, setbacks, and disputes.
A Business Partnership Attorney Can Help Launch Your Company
Creating a business plan and products is just the beginning of a long journey to establishing your business. Once you and your partner have a cohesive vision, we will take care of the legalities. A partnership lawyer has experience with starting up multiple businesses and is aware of the rules and regulations. A lawyer from the DER team will help you file all necessary documents, register your intellectual property, and even help you decide on your business’s name.
One of the most important aspects that one of our lawyers will help you with is drafting a detailed partnership agreement. In this agreement, you will outline the percentage of the ownership, length of the partnership, division of profit and loss, partner authority, decision making, resolving disputes, and many more details. This document will explain how the business will be run and ideally, how to handle difficult situations before they even happen. Our lawyers will make sure that each of you understands everything before signing, as well as hold you accountable.
Partner Makes Disreputable Decisions
Humans make mistakes. Sadly, those mistakes can greatly impact your business. Although you can monitor what goes on during work hours more closely, anything that happens outside of business hours is out of your control. What if your partner commits a crime, such as fraud? This hurts your company’s trustability, even if it has nothing to do with it. Not only is your brand damaged, but your assets may be at risk too. Getting in touch with your partnership lawyer will help you navigate through this tough situation and guide you through the necessary steps to protect your business.
Partnership Disputes and Breach of Contract
No two minds think alike all the time. It is common to have disagreements about a business’s direction or short and long-term goals. Ideally, there is a plan on how to navigate around this in the partnership agreement. However, this agreement sometimes isn’t enough to settle the dispute or make your partner see eye to eye with you. They may even break the contract and do something they didn’t discuss with you, such as take out a loan and use the company’s assets as collateral. If your partner breaches the agreement they made with you, contact DER to hold them accountable. We will figure out the best course of action and even sue if it reaches that point.
Davis, Ermis, & Roberts, P.C.- Find a Business Partnership Attorney
Business partnerships do come with their perks, such as division of loss and responsibility, but they also come with some challenges. To run a smooth and prosperous business, you and your partner need to be on the same page. At DER, we will provide you with an experienced attorney in business law, that will help you and your partner navigate the business world and settle any disputes that arise. Get in touch with us today, so we can discuss your options and set your partnership in the right direction.