Business disputes come in all forms, shapes and sizes. When entering or starting a new business venture there are numerous considerations that take place, such as the structure and management of the business, the location of the business, or other strategic concerns. However, rarely does one consider the prospect of serious business disputes, whether it be with clients/customers, partners, shareholders, or employees.
Typically when starting a business, partners or shareholders enter into shareholders’ agreements, which is an important foundational step to assure that business matters will be handled in the most effective and efficient means possible. Among other relevant matters, these agreements govern the operations, management and decision-making, profit and loss distribution, and the handling of disputes as it relates to the business. Despite the extensive planning and preparation that goes into starting a business venture, conflicts and disputes are almost inevitable. Whether anticipated or unforeseen, The Experienced West Palm Beach business litigation attorneys at the Law Offices of Peter M. Feaman, P.A., are ready to assist you in resolving your business disputes.
Considerations When Starting a Business
When entering a business, there are numerous and important matters of concern that an attorney should address and provide advice on in order to allow for smooth business operations, and to keep you alert as to potential areas for business disputes. These include:
1) Rights, duties and obligations of the officers, directors and shareholders;
2) Procedures and protective measures to ensure that officers are completing their duties in good faith and a manner that is in the best interest of the business;
3) Processes and procedures for handling legal disputes, whether it be by negotiation, mediation, or arbitration;
4) Considering matters of confidentiality and non-competition;
5) Understanding corporate formalities and procedures such as meetings, voting, and resolutions;
6) Creating a system for determination and disbursements of profits and losses; and
6) Addressing the processes for handling commercial debts, insolvency, bankruptcy, liquidation, and dissolution.
Having an experienced legal team in congruence with a strong, well-drafted shareholders’ agreement can be quite effective in preventing business disputes from arising or escalating, but they are not fail-safe. There are always challenges in a business, which may create unforeseen circumstances and thus, unanticipated sources of conflict. No matter how much planning and preventative action is taken, disputes among shareholders, managers, officers, employees, third-parties or other relevant parties may begin to surface. Both internal and external disputes can slow growth of a business, be extremely costly, and be damaging to the business image overall. It is always best to immediately address any such business disputes and hope for an expedient resolution.
Contact an Attorney to Help You Sort Out Your Business Disputes
If negotiations regarding a shareholder or partnership agreement fail, litigation is your next option. Business litigation attorneys at the Law Offices of Peter M. Feaman, P.A., located in Boynton Beach, Florida, routinely handle and assist in the resolution of all types of business disputes. Our firm has experienced attorneys who can assist you in understanding and resolving all your business disputes, whether in the negotiation or litigation phase. Contact us for your free consultation today.