Commercial partnership disputes often arise due to various reasons. Knowing your rights and responsibilities is important when resolving a dispute and can help to keep the business asset.
Whether you have a partnership agreement in place or not the law defines a business partnership.
In Victoria a partnership is the relationship which subsists between persons carrying on a business in common with a view of profit.
If you are in a business together to make a profit you could be considered to be in a partnership and in resolving disputes you will need a lawyer to assist with helping ensure that you are covered and aware of your rights and obligations under the law.
As the partners are all jointly and severally liable for partnership it is important that disputes and issues are sorted out quickly.
Some disputes that our partnership lawyers regularly advise on are:
Examples of breaches:
No matter the reason, partnership disputes can become messy and stressful. Left unresolved, they can be disruptive to your personal life and have a significant impact on the business. To mitigate any damage, seek legal advice sooner rather than later.
At PCL Lawyers, we aim for a rapid resolution that is aligned to your desired goals. We consider what the best outcome for you would be and what outcome you would like.
Our partnership lawyers are skilled in the litigation processes and we ensure that we get the best outcome by careful planning and consideration of your case and the facts surrounding it.
We can help resolve your partnership dispute by:
In some cases it may be a simple letter to help resolve the issue. In other cases, firm negotiation could resolve an issue. In other instances where a more significant breach has occurred, serious action can be taken against the defaulting partner.
Whether you are starting a business Partnership or looking at dissolving a business Partnership legal advice should be sought. Often times people will look at the short-term rather than considering the long- term consequences and without proper legal advice you can make decisions that can cost you revenue and missed opportunities.
If there is a partnership agreement in place we can assist by advising on the agreement and usually there is a dispute resolution clause in place.
Normally a dispute resolution clause would outline the various methods such as arbitration or mediation. In other cases court action is possible and more effective.
If no partnership agreement is in place the relevant legislation applies in each State for example in Victoria it is the Partnership Act 1958. We can also provide advice on jurisdictions outside Victoria.
Our dispute lawyers will work with you to go through the facts and events that lead to the dispute and work out a plan and advise you of what options you have.
Before a matter progresses to far we would correspond with the other party or parties and try and reach an early agreement and resolution. Sometimes quick action will need to be taken to protect the business or prevent loss.
If no Agreement is in place then the law governing where the partnership trades will dictate how the partnership dispute is resolved. It is quite a common issue. A litigation lawyer who is skilled in handling and resolving disputes will be able to advise you of the most practical path to take to have your issue sorted out quickly and correctly.
If you are intending to dissolve a partnership make the sure the agreement is carefully considered particularly if you intend to continue to work in the same or similar industry. How the assets are divided is important.
Such items need to be carefully considered when finalising a Business Partnership:
By taking the time to understand your personal and commercial needs and the requirements of the partnership business, our experienced team can assist in mending the partnership or if required, sever the partnership in the most cordial way possible.
Obtaining the right advice can be the difference between a broken relationship and an amicable solution.
Call Today on 1300 907 335 or contact us by completing the Enquiry Form and we will get back to you promptly.