As a business partner, dissolving your business relationship can be very similar to a divorce. Often a court's remedies in a partnership dispute includes creating a receivership where all property subject to dispute in a legal action is placed under the control of a court officer, called a "receiver." Other such remedies in a "business divorce" may include a forced sale, dissolution, winding down, forensic accounting and an award for damages.
Unfortunately, a judge in a business litigation case often has little flexibility to impose solutions such as buyouts or internal re-arrangements that can preserve the viability of the business and keep it intact. Partners involved in family businesses have an even more difficult time because legal remedies don't exist where they are tailored to address the roots and consequences of complex family dynamics. Even those partners who have worked well together in the past can find it difficult to find a fair resolution once they get into an adversarial lawsuit mode.
One solution that works well with many partnership disputes is mediation. Mediation can be very effective since both partners are represented by their own attorneys who act as their advocate. A mediator, a neutral third party, is involved to approach the case from an objective point of view.
When people get entangled in an adversarial dispute, the resulting negative feelings can stand in the way of a workable solution. When a good mediator gets involved, he or she can get the partners to take a step back from the conflict and realize that the same circumstances can occur among other partners. Having a mediator who is focused on the solution, not necessarily penalizing one party or the other, may be able to help the partners realize the other sides perspective.
At the Law Office of Steven R. Lovett, we understand that partnership disputes can present various complex legal issues and often there is a lot at stake. Your investment of time and money, your business, your security, your family's security, and your financial security may be on the line, not to mention the reputation and respect you've worked hard to earn among your peers.
Whichever dispute you are currently involved in, you will need to successfully navigate your partnership dispute in order to reach a positive resolution. You will need to keep a cool head and have a Los Angeles business lawyer by your side that has a sophisticated understanding of not only your legal issue, but a mastery of the facts so you can be guided through these challenges.
If you are facing a business dispute for the first time, resist the urge to handle it alone. Contact attorney Steven R. Lovett for the qualified assistance you need. Mr. Lovett has authored a book on California partnership law. Whether your dispute can be resolved through mediation or if litigation is the only answer, we will make diligently help you make the right choice that will be in your best interests and that is designed to minimize your losses and get you the optimum result given the unfortunate circumstances.