Law Firm Archives

Resolving Partnership Disputes Effectively

The biggest issue when partnership disputes occur is that it takes away the central focus of business owners which is running the company in order to make profits. In order to effectively resolve partnership disputes, let us examine the factors that would usually be used as basis for a prompt resolution. Starting with corporate documents and operating agreements, these things need to be checked for quality and thoroughness. Next is the value of every partner to the business itself. We also have to consider the personalities of every partner and lastly, we need to consider the effectiveness of legal counsel.

Resolving Partnership Disputes Effectively

When you think about it, if you prevent a partnership dispute from happening in the first place, there would be no issue of finding a resolution for a partnership dispute. Several small businesses and partnerships are LLCs or Limited Liability Corporations, meaning they must have corporate documents and comprehensive operating agreements addressing the issues such as the role of every partner, how income and profits are distributed, the capital contributions, the valuation of a business interest in the event of bankruptcy, incapacitation, divorce, or death of one of the principles, how the company will be sold or ended, as well as how a company should bring in new investment.

Going back to the corporate documents and operating agreements, these should contain ways to handle challenges such as potential disputes that may arise and how these things will be resolved. It is important to note that any details and legal strategies found in these corporate documents can effectively help in preventing partnership disputes before they arise, as well as aid the partners should these undesirable circumstances occur for quick resolution. Such agreements and strategies are best crafted during a time when everyone concerned in the business operations are happily working together and calm reason exists. These issues need to be addressed from the start in order to avoid any emotional and complex disputes in addition to the processes that need to be followed for resolution and decision-making.

Partnership disputes characteristically have some personal components to it which affects the relationship of the parties involved and bears influencein the scope and course of the dispute. Several business partners are close friends. Even family members go into business as partners. Thesevery personal relationships must be acknowledged and managed effectively, so when a partnership dispute happens, a resolution can take place quickly.

An experienced San Jose Business Litigation Lawyer can help clients deal with emotions associated with a partnership dispute and shift the concentration to core issues at hand. Your lawyer needs to be able to understand the personalities of the parties, as well as their business strengths and weaknesses in addition to the roles they play in the ongoing success of the business. This is where managing personalities need to be factored in to resolve any partnership disputes since these can greatly impact the efficiency and quality of the ultimate settlement.

In resolving partnership disputes, your lawyer can use several legal strategies. People’s mindsets are typically set to the idea that attorneys simply go to Court and charge exorbitant fees and that they have to go through so much legal complexities. It is truly not how it works. Lawyers also take into great consideration what their client’s goals and objectives are for the partnership dispute then also weigh in the time and expense. A negotiation between parties is the fastest and least expensive option when it comes to resolving a partnership dispute. A good lawyer knows how to foster a positive and productive working atmosphere around the dispute, while pursuing your personal interests and protecting it. You don’t have to go into a full lawsuit immediately while mediation and arbitration can be done. Should the your case end up in Court, be sure that you have the help of an experienced business litigation lawyer with the legal expertise and a track record of successful trial verdictsto represent you.

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Do You Use A Law Firm Management System Today

One of the biggest questions we always love to ask readers is on the technology they use in their practices. The question we chose to talk about today is “how many practices use a law firm management system today in their businesses?”
It’s a very good question and the truth is, we really have no idea. There are no studies or statistics today that show us just how many firms rely on a software to manage their growing number of clients.
We think the better question we should be asking is “why don’t law firms use a management system in their businesses?” Some of the answers we’ve received while polling some members are:

  1. It takes too much time to setup
  2. It’s too complicated
  3. It takes more time to use then doing things the old-fashioned way with pen and paper
  4. I don’t know how to use a computer
  5. I don’t have time to learn something new
  6. My assistants and paralegal will take care of that part of the company…one day.
  7. It’s too expensive.
  8. I don’t have a server.
  9. My IT costs are already a headache.

Once they realize however that it doesn’t have to be this way since legal technology has evolved so much they will soon be wondering:

  1. How come I haven’t done this sooner?!
  2. How come none of my colleagues ever recommended this?
  3. Should I tell other people or keep this secret to myself?

It’s very common for someone to stumble upon a law firm management system, such as practicepanther, and quickly discover what they’ve been missing all along – an easy to use, simple, intuitive, and user friendly software designed with the lawyer in mind who has little to no time.
The software is fairly straightforward, requires no training, no webinars, no videos to watch, no time spent on the phone with a customer service rep, and has all the bells and whistles one could come to expect from a management system for law firms in the 21st century. That’s right, we are in the 21st century after-all and you need to be using the legal technology available to you.


So what are you waiting for? Get out there, go to Google, and do a search right now for the best management system you can find. HURRY!

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