All too often business partners find themselves disagreeing with each other and this can lead to disastrous consequences for their business.
If you have a shareholder agreement or a partnership agreement then this should provide the basis on which resolution can be reached, but these are often complex documents which require interpretation.
Often when starting a new business you are excited about the ideas that you have for the venture and the possible failure or breakdown in the relationship with your business partner is not something that is considered at all. However, often businesses will fail and without comprehensive documentation in place dealing with such scenarios, you may be faced with a shareholder dispute and be forced into action that you would not otherwise wish to take.
Alternatively, you may have run your very successful business with your business partner for many years, but what would happen if your business partner was to die suddenly, would you want to continue running your business with their wife or family member? Without specific documentation in place this is the situation that you may find yourself in.
We can assist you in putting in place a shareholder agreement to deal with issues such as;
Partnerships can be a quick and easy way to start running a business with another person. However, without carefully worded documentation you could find yourself having to close your successful business if relations between you and your business partner breakdown, or if your business partner dies you could be forced into a business relationship with a member of your partner’s family.
We can help you to avoid these common scenarios by putting in place some initial documentation to set out how the business is run on a day-to-day basis.
This can include;
Joint Ventures are often pursued by way of partnership or specially formed limited company. They are a method whereby two or more companies or individuals can join resources to pursue a common goal. They are often used in the construction and property sectors and can be simple short agreements to hugely complicated transactions.
We are experienced in dealing with these types of transactions and can assist you with the drafting and preparation of a joint venture project or the negotiation of contract terms.
I feel compelled to email to say how thankful I am for my hour of your time today. Who knows right now where we will end up with my client but your advice today has really helped me see clearly where I stand legally and has given me the confidence and reassurance that reason will win in the end. Thanks so much for being available at short notice and really appreciate your advice