A partnership dispute lawyer in New York, NY can tell you that businesses are intricate and highly complex entities that have a multitude of moving parts. When all of these parts function as one, the business moves along successfully. If something gets thrown off, however, it can result in some element of the business getting sidetracked or bogged down. Legal matters that call for the assistance of a New York, NY partnership dispute lawyer can hit a business pretty hard, especially when it winds up affecting the reputation of the company. Too many lawsuits may signal investors and the public that the owners of the business don’t know how to handle things. To avoid getting embroiled in business litigation, contact New York, NY partnership dispute lawyers from Okun, Oddo & Babat for the legal assistance you need.
Business owners in the state of New York should be on the lookout of four common disputes that may give rise to court appearances:
1. Breach of Contract
One of the heaviest hitting types of cases that New York, NY partnership dispute lawyers may contend with are breach of contracts filed against businesses. In these suits, one party to an agreement alleges the company has failed to fulfill its duties under the legally binding contract. Common reasons for the breach of contract include:
- Material breach
- Fundamental breach
- Partial or minor breach
- Anticipatory breach
Each of these four breach types comes with a consequence that ranges from minor damages up to special damage awards.
2. Regulatory Investigations
Businesses are typically governed from above by local, state and federal law. If an inspector appears at a shop and finds something is not in sync with what the laws and regulations dictate, the business may be fined or worse. A partnership dispute lawyer from New York, NY may be needed if a company ignores the rules and is caught through regulatory investigations. As a result, business owners may wind up front and center of a heated court battle.
3. Breach of Fiduciary Duties
When one person is granted the power to make decisions on behalf of other people, they are entrusted with doing what is in the best interest of the others. A CEO, for example, has the fiduciary duty to act in accordance with what is in the best interests of the company, including the employees. However, when a person in this position is found to have committed an act contrary to the best interest of others, it is considered a breach of this fiduciary duty and can result in the need to acquire a New York, NY partnership dispute lawyer. In some cases, these actions may result in serious legal and financial repercussions.
4. Partnership Disputes
Obtaining a partnership dispute lawyer in New York, NY may help mitigate the risk of problems arising within a partnership. When people set out with the same vision of a business, they may form a legal partnership to get the company up and running. However, at some point in the business, they may start to disagree and fight over courses of action. Partnership disputes can resolve quietly in the conference room, or the fight may escalate to the courtroom.
Contact Okun, Oddo & Babat, a business dispute lawyer in New York, NY to provide you with the assistance you need when facing a business dispute. A New York, NY partnership dispute lawyer can act as your ally when it comes to dealing with your company’s litigation matters and reputation.