Corporate and Partnership Disputes in Nashville
If you are not alone in running your business, you can almost guarantee that disagreements between parties will arise at some point. Partnership disputes arise when unrealistic expectations are set, such as the agreement between parties on every subject, and can cause later issues. Corporate disputes can be even more intricate to traverse due to the serious legal work that goes in to establishing guidelines. If such problems come up that may be complex to solve, the most important step you can take is to discover the best routes to ensuring the safety and security of not only yourself, but you business as well.
Contracts, Rules, and Regulations
During the formation process of your business, you likely established, in some form of documentation, the terms by which the logistics of management would operate.
However, this is not always the case, and drafting contracts of agreement between parties in a business is not required by law for the formation of a business.
Although it is recommended that you do determine what rules will govern your business during its inception. In doing so, you preemptively protect both yourself and your business partners from the tension and potential lawsuits that may ensue in the event of subsequent disagreements or partnership disputes.
Regardless, if there is no documentation outlining what routes should be taken during such events, any party is legally authorized to withdraw themselves from the business and liquidate their interest.
Partner and Shareholder Exclusions
With partnerships, either party is allowed to obtain any information pertaining to the functionality of the business itself. Lawsuits involving the dissolution of a business can be filed if one partner tries to exclude the other without their knowledge or consent. Corporate shareholders may also be eligible for compensation if state courts conclude that a shareholder has not been in receipt of due payments.
Minority Shareholder Matters
Minority shareholders with the ability to prove beyond a reasonable doubt that they have been or are being subjugated by majority shareholders may have the power to persuade the court to dissolve the company.
In these instances, the person or persons are required to prove soundness of their expectations. Even individuals who may not be minority shareholders, but do claim 50% company value may also be allowed to file for dissolution.
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Majority Shareholder Matters
Although minority shareholders may be considered the unlikely winner of dissolution lawsuits, they may not be legally justified in their conduct. Majority shareholders who find themselves in a position of advocating for themselves against allegations of oppression may contest the claims filed.
The shares of the minority shareholder who makes claims of oppression may also be purchased by an individual shareholder or by the business itself. For even those who may not be minority shareholders but still have the ability to claim a 50% value of the business are legally allowed file for the dissolution of the company.
Contact Expert Tennessee Business Attorneys
The attorneys at Nashville Law Offices, PLLC know the difficulties involved with managing companies with combative opposing parties. We have decades of experience resolving, preventing, and mediating for partners, shareholders, and other individuals involved in such circumstances. Reach out to our offices today to schedule your free initial consultation.