Partnership/Contract Disputes Lawyer in Minnesota Protecting Your Business Interests
Going into business with a partner is an exciting time full of possibilities and creativity, but what happens if things sour down the road? Partnership and contract disputes aren’t uncommon, but they can make things very difficult for your business to operate as usual when they do. A contract dispute attorney can help you navigate this situation and ensure that any decisions you make and actions you take are in your best interests. Find out more about partnership and contract disputes below.
If you’re struggling with a contract dispute and aren’t sure what your options are, contact TVA Law Office. A business attorney will go over your contract to get more information on what breaches may have occurred and what your legal options for recourse may be. An attorney can also help if you are the one being sued for breach of contract.
What Is a Legal Partnership?
A legal partnership is when at least two people go into business together. It’s common for both parties in the partnership to be co-owners of the business, and they generally share profits — although this may not be a 50/50 split. It’s important to note that while it is possible — and definitely advised — to have a contract that lays out each person’s role and responsibilities in the company, this isn’t required for a legal partnership. If two people are acting as business partners, it’s possible for it to be a legal partnership, even if there is no official paperwork. This can make things a little muddier when it comes to partnership disputes, so if this is your situation, make sure you get counsel from an experienced business attorney.
What Happens When There Is a Contract Dispute?
A contract dispute happens when there is a disagreement about what the terms of a contract allow for. Because a contract is a legally binding document, any dispute involving a contract is also handled through the legal system. When there is a dispute over a contract, the first step is that all the parties involved are notified. This gives everyone a chance to review the dispute and respond. This is also when you should get an attorney involved who has experience in contract disputes. If the dispute cannot be settled out of court through mediation or the like, it will need to go forward to trial.
What Does a Contract Dispute Attorney Do?
A contract dispute attorney plays several roles. One is to help you understand whether the grounds for the dispute are relevant. This is true whether you are being sued for breach of contract or if you believe that your partner has not upheld their terms. It is common for people not to understand exactly what the contract’s terms are, which is why it is important to always have an attorney review any paperwork before you sign it as well. A contract dispute attorney also represents your interest throughout the lawsuit. This includes helping to negotiate a settlement, ensuring you understand all of your options, and arguing your case before a judge.
What Should I Know About Contract Disputes?
One of the most important things to know about contract disputes is that they should always be taken seriously. You may think that the other party doesn’t have any grounds for their suit, but contracts can be an especially challenging part of the law, and it’s always best to respond quickly and talk to a contract dispute attorney as soon as possible. Another thing to know is that contract disputes can often be resolved before they get to trial. It’s important to talk with your attorney about your options, including alternative dispute resolution such as mediation or arbitration.
Contract disputes are never pleasant, but they come up frequently in the business world. Ensure that you have experienced legal counsel representing you when you partner with TVA Law Office. Call 651-571-8547 to get more information on our firm or to schedule your consultation with an attorney today.