Partnership Dispute Lawyers In Wheaton, Illinois

DuPage County Business Law Attorneys

A partnership dispute can quickly derail a successful business regardless of the circumstances leading up to the dispute. Partners may disagree over the division of labor, profit distribution, business philosophy, and a host of other matters. Other times, the source of tension is the partnership itself. One member may be looking for an expanded or reduced role in the business. All of these situations require an experienced attorney.

At the Law Offices of Salvatore C. Miglore & Associates, we represent businesses of all sizes in these situations. Our diligent Wheaton business law attorneys work hard to produce the best possible outcome, and we are willing to go the distance to protect your legal and proprietary rights.

Most partnerships are general partnerships: the members share the profits, and the liabilities, on an equal basis. Typically, though not necessarily, there is a partnership agreement. This document can be anywhere from a few lines to a few thousand words. Properly interpreting this partnership agreement is often a key to a quick and successful resolution. Aside from general partnerships, the law recognizes limited liability partnerships and other business organizations.

Partnership disputes can occur in a number of different areas, including:

• Breach of Duty: The law imposes certain requirements and responsibilities, and sometimes it is necessary to hold partners properly accountable for their action or inaction.
• Misuse of Funds: Sometimes the issue is a simple misunderstanding or accounting error, and sometimes there are serious concerns about embezzlement and other weighty matters.
• Structure: A partnership agreement may or may not provide a legally enforceable and practical method for dissolution, withdrawal, and admission.
• Trauma: Divorce, death, bankruptcy and other sudden and unexpected events can cause confusion which leads to disagreement and even litigation.

Partners may also disagree about joint ventures, mergers, and intellectual property rights. Many times, a business dispute may be symptomatic of a deeper schism between the partners which needs to be addressed.

Typically, these problems can be resolved without prolonged civil litigation. Perhaps the partnership agreement can be amended, or perhaps the dispute can be rather quickly resolved in mediation, binding arbitration or some other alternative dispute resolution forum. However, our Wheaton business law attorneys are prepared to file suit to protect your interests. Litigation often involved a temporary restraining order or other injunctive relief to preserve the status quo, especially if there are immediate concerns about the integrity of the partners or the business. 

No matter the forum or type of dispute, the objective is always to resolve the matter as quickly as possible without unnecessarily disrupting business operations, damaging goodwill or otherwise harming the overall endeavor. If the partnership must be liquidated, our attorneys can help ensure that the process is orderly and fair. Our philosophy is to give you as much information as possible, advise you as to the risks and rewards, and let you make the decisions.

A partnership is meant to make a business undertaking easier. If that is no longer the case, for whatever reason, contact the Law Offices of Salvatore C. Miglore & Associates at (630) 933-8400 for a free consultation. We represent businesses in DuPage, Will, Lake, McHenry, Kendall, DeKalb, Cook and Kane Counties.