Monterey Business Attorney – Break-Ups
When two or more individuals enter into a business partnership there are high hopes of success, satisfaction and financial gain. However, these hopes and goals are not always reached. The reality is that four out of five new businesses in the United States fail.
Failed businesses create complicated issues and stressful situations. Business partners often blame each other believing that the actions or inactions of one partner caused the failure of the business. Often times, there are claims of misrepresentation, fraud, gross mismanagement and financial wrongdoing. A failed business partnership can turn friends against one another and sever long time relationships.
Many legal issues follow the dissolution or “break up” of a business partnership. These legal issues can include:
- The distribution of assets
- The division of liabilities
- Tax consequences
- Regulatory complications
- Monetary reimbursement
- Financial accountings and the tracing of proceeds
- Wrongful expenditure of business funds by a partner
- The right to continue business endeavors or operate a similar business
- Anti-competition breaches and anti-competition enforcement
- The protection of trade secrets or proprietary information that give a competitive advantage
- The right to customer, client or account retention
Just like a divorce from a spouse in a domestic relationship, a business “break up” can cause animosity, feelings of ill-will and result in an embroiled fight between two or more feuding partners. If you are experiencing a business “break up” and need an attorney to fight for your rights, contact the Piccuta Law Group, LLP. Our attorneys have experience in aggressively handling legal disputes between business partners. We will make sure the other side is held accountable for his or her actions and that you are protected with skilled legal representation and thoughtful strategy.