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Orlando, Florida Partnership Breakup Lawyers
Partnership breakups, like any divorce, can be painful, challenging, and costly if not handled appropriately. The best way to prevent the worst disputes is to have a sound partnership contract in place that clearly outlines what will happen if the partnership should break up. However, not all partnerships start with a contract and if you do not have a clear contract, you may need to speak to a lawyer to protect your rights and divide your partnership in a manner that protects your rights and interests. Michele Diglio-Benkiran, Esquire is an Orlando, Florida partnership breakup lawyer who can help you navigate the legal challenges that may arise. In some cases, partnership breakups can be negotiated through an out of court settlement or mediation. In other cases, litigation may be necessary. Ultimately, it is important to protect your business interests, your business reputation, and your rights as you move forward. Michele Diglio-Benkiran, Esquire is a partnership breakup attorney in Orlando, Florida who can help you. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
Preparing for a Partnership Breakup in Orlando, Florida
The best way to prepare for a partnership breakup is long before any warning signs of a breakup are imminent. If you are about to enter into a partnership, even if you are getting into the partnership with a friend or loved one, it is essential to have a partnership contract or agreement in place. This contract can clearly outline who owns what and what happens should you and your partner choose to part ways. If you are currently in a partnership and things are going well, but you have no contract, now might be the time to formalize your partnership. Michele Diglio-Benkiran, Esquire is an Orlando partnership contract lawyer who can assist you with creating a partnership contract that can protect your rights should a partnership breakup occur.
What are some signs that a partnership might be about to break up? And what can you do to protect yourself? Here are some things to keep in mind:
- Failing to Communicate. In any partnership, open communication is essential. If you are not communicating with your business partner, issues may be imminent. Ask yourself about how you feel about meetings you hold. Are they productive?
- If you find yourself unable to agree with your partner about your business goals, values, and next steps, a split may be in the future.
- Imbalanced Contributions. If one business partner is putting in more work or effort or money than the other, this could be a sign that the partnership may be about to end.
Ending a business partnership can be just as challenging as a divorce, so it is important that you take steps to protect your rights and interests. You may have to make tough decisions, such as deciding to split the business into two entities, or choosing to have one partner sell the business to the other. Legal Counsel, P.A. employs a partnership breakup lawyer in Orlando, Florida who can assist you with this process. at 407-982-4321
Partnership Breakups: Your Options
If you and your business partner have chosen to break up, you’ll need to consider all your options. Before moving forward, consider reaching out to a qualified partnership breakup attorney in Orlando, Florida, like Michele Diglio-Benkiran. Esquire. Legal Counsel, P.A. can help you understand your options and work with you to help you craft a solution that is best for you and for your business. Here are some options:
- Buy the business or sell your share of the business. If your business is intertwined or if the partnership cannot be easily dissolved without selling your business, one partner may choose to sell his or her share or the other partner may choose to buy his or her share. This can often result in a clean break, but it is important that you have a legally, binding contract in place to document the sale of shares in the business or the sale of the business. Michele Diglio-Benkiran, Esquire is a partnership breakup lawyer in Orlando, Florida who can help you with this process.
- Dissolve the partnership, split assets, and open two separate businesses. Sometimes you can split a partnership if each partner has his or her own clients, and the partners only share only co-own some assets like real estate, office supplies, or other tangible and intangible assets. Even in cases where two partners are closely entangled, a qualified partnership breakup lawyer may be able to navigate the process of dividing the company. It is often possible to divide existing clients, divide property and assets, and go your separate ways. However, this process may involve some negotiation. In a partnership, some aspects of your business may be comingled and you may even share existing clients or assets. A partnership breakup lawyer in Orlando, Florida like Michele Diglio-Benkiran, Esquire can assist you with your partnership breakup—from drafting required contracts to helping you understand your rights and responsibilities. We can help you with litigation, if needed, but we can also protect your rights should you plan to finalize your partnership breakup outside of court.
- Other solutions. A qualified partnership breakup lawyer in Orlando Florida like Michele Diglio-Benkiran, Esquire can help you find other appropriate solutions. Sometimes you may not need to break up the partnership entirely, but can reduce the share one partner has in the company. In other cases, some of the disputes partners have can be resolved in a satisfactory manner with the assistance of an attorney.
If you think your partnership is heading for a breakup, protect yourself. Legal Counsel, P.A. employs a partnership breakup lawyer in Orlando, Florida who can help you break up your partnership while protecting your business interests and rights. Have questions? We have answers. Contact Legal Counsel, P.A. today.