Whilst you may start in business with friends or family
with the best intentions, things may not always go to plan.
Business owners often encounter issues with their business partners, co-directors or shareholders.
When things don’t go to plan, a lawyer can provide you with objective advice
and also help you with a legal fight if that’s what’s needed.
Disputes between business parties are common.
It's common for people to have disagreements in business. In fact, it could be considered normal.
Most businesses start with collaboration between friends or relatives who have a desire to work together and have shared goals of creating a successful venture. It is often the case that little attention is paid to what might happen if someone starts behaving in an unfair way to the other or if the personal relationship breaks down or goes sour.
It's when things seem beyond repairable, that it may be time to speak to a lawyer.
Before you commence pursuing against your business partner, it is important that you understand your legal obligations and rights, whether as a director or shareholder and those of your business partner. A lawyer can explain your rights and prepare you for what's ahead if you decide to take action and/or part ways.
In resolving shareholders' disputes, consideration should also be given to the relationship with third parties including landlords, suppliers and customers, licensing requirements, misappropriation of funds by a co-director and/or restraint of trade on the business partner.
Last resort: Winding up the business
The last resort in resolving the dispute will be to wind up the company, which is costly and time-consuming. However, our lawyers can help you with this and ensure you receive the best possible outcome based on the situation.
There are many alternatives to winding up which can be explored with your legal advisers.
Get a resolution. Speak with one of our lawyers.
Our lawyers are experienced and can advise you on your best, next step based on your individual situation. Find out where you stand.
