What to Do When a Business Partner Breaches Your Partnership Agreement in New York

There are many advantages available to partners who operate a business together. When a conflict or disagreement arises between business partners, it can threaten to greatly harm the business.

Your good name as a business owner is worth a considerable amount both to you and your business. The last thing you want to see happen is for a disagreement with your business partner to get out of control. The future successes of your business depend a great deal on your ability to manage disputes constructively.

This is where the Knox Law Group can make a tremendous difference for you and your business. Attorney Daniel Knox has over a decade of experience serving business owners concerned about their partners potentially violating a partnership agreement. Our focus today is on what to do when your business partner is in breach of your partnership agreement.

The Role of Your Partnership Agreement

Before focusing solely on filing a lawsuit, it is prudent to first take out and read your partnership agreement. By avoiding unnecessary liability, a partnership agreement allows two people to create a business together with clearly defined roles and responsibilities.

When a dispute arises between business partners, the partnership agreement specifies the rights and responsibilities of each partner. Additionally, a well-drafted partnership agreement should outline a process for resolving disputes amicably. Finally, the steps necessary to remove a partner should also be contained in a partnership agreement.

It may be that the partnership agreement contains language dedicated to helping you and your business partner resolve this matter outside of court. Also known as Alternative Dispute Resolution (ADR). These are methods of righting wrongs and addressing ongoing disagreements without needing to step foot in a courtroom.

Determining if a Breach of Contract Occured

When you are confident that filing a lawsuit is the only or best way to approach the breach of a business partnership agreement, then you should determine your grounds for filing suit.

Depending on how strong your evidence is, your business partner may be willing to settle the case sooner rather than later. When you believe that misrepresentations, fraud, breach of contract, negligence or abandonment of the partnership has occurred, it is critical that you contact an experienced New York breach of contract lawyer. Our team of legal professionals puts the interests of our clients first.

Collecting and Organizing Evidence

Being able to demonstrate that you have suffered damages due to the breach of a partnership agreement means that evidence is crucial. Showing a judge or jury the damages you have suffered with credible evidence means that your case will be viewed more favorably by either a judge or jury.

Contact an Experienced New York Breach of Contract lawyer Today

Owning a business with a partner is complex. Protecting your business from the harmful actions of a misguided partner is critical. Contact Knox Law Group when you find yourself in a breach of contract situation. When getting it right the first time matters, look to our team to help guide you towards a favorable outcome in your case.