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On partnership disputes and their legal complexities

Every business has a beginning, and that beginning will vary from company to company. Some businesses are started by a sole owner or inventor. Some businesses are corporations, either by original design or by the very nature of the company's evolution. And other companies are partnerships.

Partnerships often begin with a lot of enthusiasm and synergy between the partners. They trust each other and relish the opportunity to work with each other. These sentiments could certainly persist ad infinitum, but that is a rarity in the business world. Over time, conflicts may arise as a result of business deals, legal disputes or simply the evolution of the partners' character and beliefs. When this divergence in philosophy occurs or there are disagreements among the partners, a partnership dispute could arise. 

What we just outlined above, though, is a kinder way of looking at partnership disputes. Sometimes, the partners engage in illegal or downright notorious behavior, and it can spark a partnership dispute. For example, what if a partner breaches a contract they have signed? What if a partner engages in a blatantly illegal behavior, such as embezzlement or a violation of their fiduciary duty? What if a partner releases a trade secret, either by accident or on purpose?

These are serious issues that need to be addressed swiftly and legally. Partners that are in a difficult business situation due to another partner's actions need to consult with an experienced business attorney -- and in the Minneapolis area, we at Faricy Law Firm can help you strive to resolve your partnership dispute.

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