Partnership and Contract Disputes
Despite the legal challenges your entity will encounter daily our experienced litigators at Komorn Law can meet those challenges and protect your business. Our attorneys develop and implement creative solutions to high-conflict disputes such as contract or partnership disputes.
It often seems that partners share the same vision at the beginning. Unfortunately, disagreements can take place among the original partners or new members.
That's why it's important to have partnership or shareholders agreements, these can resolve the difficult issues of retirement or buyout provisions, the compensation system and amounts, and separation provisions.
Handling these important issues in a comprehensive agreement at the start or immediately can eliminate one aspect of internal
disagreement and allow your entity to pursue its goals.
What is a Partnership Agreement?
A partnership agreement is a contract between partners in a partnership which sets out the terms and conditions of the relationship between the partners, including:
- Percentages of ownership and distribution of profits and losses
- Description of management powers and duties of each partner
- Term (length) of the partnership
- How the partnership can be terminated
- How a partner can buy his/her share of the partnership.
A business partnership is like a personal partnership. The people involved in both kinds of partnerships need to have clearly communicated understandings.
In business, especially, those understandings should be in writing. Let Komorn Law help with your business objectives from the start.
Thinking of Starting a Cannabis or Hemp Business?
Komorn Law has associated our law firm expanding its cannabis and hemp industry services across the globe. If you are thinking about starting a business in this area you will need legal guidance and corporate counsel.
Contact our office to find out more information.