Category Archives: Partnership Disputes
Partnership Disputes: Navigating Cases With Partners Who Are Also Employees
Every company needs the right structure in order to succeed. For many different types of businesses, a partnership—whether a general partnership (GP), limited partnership (LP), or limited liability partnership (LLP)—may be the best option. By definition, business partners must put a great deal of faith into each other—especially so when a partner works for… Read More »
Can A Business Partner Be Held Liable For The Partnership Is Underperforming?
Entering a business partnership is a big decision that requires careful consideration and due diligence. It is important to clearly define the terms of the partnership through a written agreement and to establish a solid foundation of trust and mutual respect. It is also crucial to ensure that both parties have a shared vision… Read More »
The Golden State Warriors Named In Class Action Lawsuit Over Partnership With FTX
CNBC reports that FTX founder Sam Bankman-Fried was arrested in The Bahamas on December 12th, 2022 on a wide range of criminal charges. Mr. Bankman-Fried and the company stand accused of swindling investors out of more than $8 billion. Civil lawsuits have already been filed—and some relief defendants have been named, including the NBA’s… Read More »
Partnership Law: Four Examples Of Self-Dealing
In Florida, a business partnership is governed largely by the terms of the voluntarily-agreed upon partnership agreement. Though, Florida does have a partnership law statute. Under Florida Statutes § 620.8404, business partners owe each other a “duty of loyalty.” Self-dealing constitutes a breach of the duty of loyalty. What exactly is self-dealing? Broadly speaking,… Read More »
How Are Disputes Over Ambiguous Terms In A Partnership Agreement Resolved?
Commercial disputes are complicated—especially so when the parties to the dispute are business partners. A partnership agreement is supposed to bring clarity to the relationship. What happens if the partnership agreement has ambiguous terms? Within this article, our West Palm Beach partnership dispute lawyer explains how disputes over ambiguous terms are resolved in Florida… Read More »
St. Louis Law Partners Locked In Legal Dispute Over Alleged Breach Of Fiduciary Duty
According to a report from the St. Louis Post Dispatch, two partners at the Missouri-based law firm of Schlichter, Bogard and Denton are locked in a partnership dispute over an alleged breach of fiduciary duty. The St. Louis Post Dispatch states that the plaintiff, Roger Denton, has sued his partner, Jerry Schlichter, for allegedly… Read More »
Delaware Court Of Chancery Dismissed Partnership Lawsuit, Upholds Arbitration Agreement
The Delaware Court of Chancery has upheld a pre-dispute arbitration provision in the case of Wildfire Productions, L.P. v. Team Lemieux LLC and Lemieux Group—a partnership dispute involving the owners of the Pittsburgh Penguins of the National Hockey League (NHL). The court emphasized that the Federal Arbitration Act (FAA) strongly favors the enforceability of… Read More »
What Happens If Business Partners Disagree About The Interpretation Of The Partnership Agreement?
If you are in a business partnership in Florida—whether it is a General Partnership (GP), Limited Partnership (LP), Limited Liability Partnership (LLP), or Limited Liability Limited Partnership (LLLP)—you should have a written partnership agreement. A partnership agreement is a contract from which the majority of your rights and responsibilities are derived. This raises an… Read More »
How Does An Attorney Help To Resolve A Partnership Dispute In Florida?
Business partners rely on each other to operate their joint business with care, attention, and skill. A dispute between partners in business can emerge for a wide range of reasons—from disagreements about the finances to differing visions for the future of the company. With partnership disputes, a proactive approach is critical. The right lawyer… Read More »
What Should You Do If A Business Partner Breaches Their Fiduciary Duty In Florida?
A dispute with a business partner is never easy to navigate. There can be a lot on the line—both personally and professionally. If you believe that your business partner breached a fiduciary duty, it is imperative that you know your rights and your options. Here, our Miami partnership dispute lawyer discusses the things to… Read More »
Can A Partner In A Business In Florida Also Be Considered An Employee Of The Company?
Business partners rely on each other to work towards building a strong and successful company. A partnership in Florida may also rely on the contributions of others, including the employees that they hire. You may be wondering: Can a partner in a business partnership also be an employee in Florida? The technical answer is… Read More »
How Can A Buyout Agreement Help Prevent & Resolve Partnership Disputes In Florida?
Partnerships can be efficient and effective business entities. Partners in business are required to put a lot of faith in each other. The sudden death, disability, or retirement of a business partner is a high risk period for disputes. A buyout agreement is one of the most useful tools for preventing and resolving these… Read More »
When Will A Florida Court Approve An Accounting In A Partnership Dispute?
Are locked in a dispute with a business partner in Florida? Is the dispute centered around important financial issues? If so, a legal option called an “accounting” may be the most effective and efficient way to resolve the matter. It is crucial that you understand how a partnership accounting works and when a Florida… Read More »
Partnership Law In Florida: Know Your Legal Options If A Business Partner Uses An Opportunity For Themselves
You and your business partner should always be on the same side. If you find out that your business partner is actually competing directly against your partnership—perhaps by taking a business opportunity for themselves or for another business that they own—it can harm your interests. You have legal options available. In this article, our… Read More »
Can A Partnership Agreement Be Revised After It Is Already Signed In Florida?
A partnership agreement is the foundation of the commercial relationship between business partners. If a legal dispute arises, a Florida court will primarily look to the terms of the partnership agreement to determine each party’s rights and responsibilities. It is crucial that your partnership agreement is well-drafted and that it protects your best interests…. Read More »
What Do I Do If I Suspect That My Business Partner Is Stealing From The Partnership?
A partnership is one of the most common ways to structure a business. It can be efficient and effective. At the same time, the partnership entity requires partners to put a great deal of faith into each other. This raises an important question: What can I do if my business partner is stealing money?… Read More »
Three Common Types Of Business Partnership Disputes Over Profits
Profits are the lifeblood of a business partnership. It takes a tremendous amount of work to form, build, and develop a successful business partnership. Profits can make the endeavor worth the effort for entrepreneurs. Profits—and other financial considerations—are also the leading reason why business partners get locked in disputes. Here, our Miami partnership dispute… Read More »
Did Your Business Partner Breach The Partnership Agreement? You Have Four Legal Options
A partnership agreement is the foundation of the legal relationship between business partners. While there are partnership laws in Florida, the partnership agreement serves as the basis for each partner’s rights and responsibilities. A breach of partnership agreement can cause serious harm to the non-breaching party. This raises an important question: What can you… Read More »
Tampa Bay Rays Owners Still Locked In Partnership Dispute
According to a report from Forbes, the partnership dispute between the Tampa Bay Rays majority owner Stuart Sternberg and a group of limited partners is continuing and becoming even more “nasty.” More details have become public and the limited partners are seeking more than $30 million in damages. The team’s minority owners are alleging… Read More »
My Business Partner Is Making Important Decisions Without Me—What Are My Rights?
A business partnership requires trust and a good working relationship. When all parties are not on the same page, there can be serious issues. This raises an important question: Can a business partner make a major decision without me? In Florida, the answer depends largely on the specific structure of your business. In this… Read More »
