Partnership Disputes: A partnership dispute is much like a dispute amongst spouses. In both, the parties are inextricably linked and significant consequences can arise if issues are not resolved. Unfortunately for business partners, there exists no streamlined “divorce” procedure.
In today’s economic climate disputes amongst business partners are increasing at an incredible rate. A partnership dispute can send a business into a tail-spin and cause company morale to plummet. When it becomes apparent that two or more individuals are no longer able to direct the operational aspect of a business, immediate action must be taken to preserve the integrity of the business.
If you are faced with a dispute involving your business partner, contact the Law Office of Ryan C. Solis today to schedule a consultation to discuss options are remedies to address your partnership dispute.
Breach of Contract: A contract is an agreement between two or more parties that create enforceable obligations. Businesses enter into contracts with vendors, suppliers, customers, employees, and other businesses. Despite the clear delineation of contractual responsibilities and obligations, breaches of contract will inevitably arise. A breach of contract occurs when a party to a contract fails to perform a contractual obligation. Failure to perform can include withholding payment, not delivering goods in a timely or specified manner, delivering substandard goods, or providing substandard services. A lawsuit for breach of contract generally allows for the prevailing party to recover of attorney’s fees.
If you are facing an issue regarding breach of contract, contact the Law Office of Ryan C. Solis today to schedule a consultation to discuss your legal options.
Non-Compete Violations: In the sale of a business, the buyer will often request a non-compete provision to make sure that the seller is restrained from diluting the goodwill of the business by setting up shop down the street and attracting customers with whom he or she has a relationship. The sales price of a business is often adjusted to reflect the value of this promise by a seller. Unfortunately, sellers do not always uphold this promise. A violation of a non-compete provision will certainly cause an unanticipated hardship for the buyer. Immediate action is needed once it has been discovered that a non-compete agreement has been violated.
If you are faced with an issue involving the violation of a non-compete agreement call the Law Office of Ryan C. Solis to schedule a consultation to discuss legal options on how best to handle the matter.
Breach of Fiduciary Duty: A fiduciary duty is the highest duty under the law. A fiduciary is required to act for the benefit of another and owes the duties of good faith, trust, confidence, and candor. Fiduciary duties are not readily assumed. However, a partner owes to his or her fellow partners a fiduciary duty. Shareholders in a closely-held corporation owe each other a fiduciary duty and corporate officers owe the corporation a fiduciary duty. Fiduciary duties can be breached by misappropriating money from the business, foregoing a business opportunity to the benefit of the fiduciary, or engaging in any transaction that personally benefits the fiduciary or harms the beneficiary. There are various damages available to an innocent party including disgorgement of fees and exemplary damages.
If you have a business partner breach his or her fiduciary duties contact the Law Office of Ryan C. Solis to schedule a consultation.
Shareholder Oppression: Minority shareholders in small corporations can be at a terrible disadvantage should the majority choose to engage in underhanded practices. Unlike stock traded on Wall Street, there is no market readily available to facilitate the sale of stock owned by such a minority shareholder. Plus, the stock of a minority shareholder is not attractive to prospective purchasers who may come into a contentious business setting knowing that their minority status essentially mutes their voice at the shareholder table. Majority shareholders will at time engage in shareholder oppression which plays upon the disparity in power by employing “squeeze out” tactics. These tactics are designed to constructively oust a shareholder and force the discounted sale of stock to the majority. Shareholder oppression can also occur when the majority pays themselves exorbitant salaries which deplete the business of money and thereby prevents the business from paying dividends.
If you are think that you might be the victim of shareholder oppression or if a business colleague is accusing you of such, contact the Law Office of Ryan C. Solis to schedule a consultation to discuss legal options regarding shareholder oppression.
Intentional Interference with a Contract: The business world is full of people striving to get ahead. Unfortunately, some will cross the lines of decency and interfere with contractual relationships. Intentional or tortuous interference with a contract arises when a person knows of a contract between two or more parties and intentionally tries to interfere with the contractual relationship. This can occur by offering a lower price or a similar product. This can also occur through misrepresentation of facts. However it occurs, the bottom line is that the interfering party can cause significant financial damage to those individuals or businesses that are parties to the contract.
If you suspect that a contract to which you are a party is being interfered by another, contact the Law Office of Ryan C. Solis today to schedule a consultation to discuss legal options regarding the intentional interference with a contract.