Partnership Dispute Lawyer Austin Texas
When going into business with a partner doesn’t work out as planned, a spouse may speak with a Partnership dispute lawyer in Austin, Texas from Gray Becker, P.C. for advice on how to handle the situation. In the beginning, you may have told yourself that two heads are better than one, and since you plan to be with your spouse forever what could possibly go wrong? While business collaborations can be succcessful, there are instances where disagreements arise. And because this person is your partner in life and not only business, it can sting just that much more.
If you are in business with a spouse and have decided that you two must part ways, then don’t hesitate to contact a divorce lawyer Austin, TX residents trust to have their best of interest in mind during a divorce proceeding.
Preventing Partnership Disputes
There is no guarantee that a dispute won’t happen between you and your spouse in business. However, there are ways that you can minimize the chances of it occurring. Taking steps from the start to clarify your roles in the business and how you are going to find solutions for disagreements, can make a huge difference in the long run. But, an Austin Partnership dispute lawyer also understands that perhaps you are at the point where starting again fresh with your spouse isn’t possible. If that is the case, then we can represent your side and help you keep your business intact.
Your Partnership dispute lawyer in Austin, TX from Gray Becker, P.C. may ask you during a consultation if you have a written business agreement already in place. If you do, then we can review it for areas of improvement and hopefully convice your spouse to sign the updated version, with the motivation to meet in the middle and get past this dispute. If you don’t have a written agreement yet, then we can help you establish one so you and your spouse are more clear about boundaries, responsibilities, and methods of conflict resolution. The agreement should define the following items clearly:
- The role of each partner
- The obligations/duties of each partner
- What percentage control each partner has in the business
- What kind of capital contributions
- Distributions and compensation
- Under what circumstances the business relationship can be terminated
- How you will both handle worst-case scenarios (what happens in the event of conflict, when co-founders or partners are to be removed, when/if a partner can withdraw themselves, etc.)
- How additional capital contributions are to be handled
A Texas Partnership dispute lawyer may strongly recommend that every major agreement made between you and your spouse is in writing. Having a document that you both agree with and have signed can be useful if and when disputes happen. If you need regarding a business disagreement, an Austin, Texas Partnership dispute lawyer from Gray Becker, P.C. is ready now to take your phone call.