Partnership disputes can occur even in longstanding business relationships and for any number of reasons.
A working relationship may change over the course of time – or there may be disputes over finances, a business plan, or equal share of the partnership workload.
Usually there is a partnership agreement in place, which can be used to pinpoint how a dispute might be resolved or the partnership can be taken forward on a new footing.
In cases where no partnership agreement was ever signed and a verbal or informal agreement formed the basis of the partnership, what was agreed can still be legally binding.
It is not necessary to have a written agreement to form a legal partnership –and even a working arrangement between two or more people which has developed over time can be considered to be a partnership under the Partnership Act 1890, which will apply to any partnership where no agreement has been signed.
In some partnership disputes , one or more parties may be entitled to claim damages, including damages relating to breach of fiduciary or contractual duties or injunctions against one partner.
Duncan Lewis commercial litigation solicitors can advise at any stage of a partnership dispute – and Duncan Lewis advises clients to get in touch at an early stage of any dispute, if possible, to prevent the matter escalating and possibly leading to costly litigation.
The Duncan Lewis commercial litigation department can review a partnership agreement and can also advise on partnerships where there is no written agreement.
In cases where a partner may face expulsion, Duncan Lewis can advise on whether the agreement permits a member to be expelled from the partnership and any fees due to the outgoing partner, or forfeiture of fees.
Duncan Lewis also has considerable expertise in dispute resolution and mediation services, which may be an alternative to litigation in a partnership dispute.
For expert legal advice on Partnership Disputes, call Duncan Lewis Commercial Litigation Solicitors on 0333 772 0409.