August 20, 2021

A Step by Step Guide To Suing Your Business Partner

A Step by Step Guide To Suing Your Business Partner

You and your partner may have similar aims when you first start your business venture. Relationships can, however, unexpectedly deteriorate. Perhaps your business partner took acts that harmed the company’s brand and revenue. In some cases, the only way to resolve a problem is to sue your business partner. This article will help you determine how to sue your company partner by consulting with an experienced business lawyer Irvine or business attorney Irvine to help you along with your business litigation needs.

Reasons Why You May Want to Sue Your Business Partner

You may need a Irvine business litigation Attorney to sue a business partner for a variety of reasons. Here are the most common reasons:

  1. Breach of a partnership contract

When one partner breaches the terms of your partnership contract, the effects may end up being disastrous. However, to sue them, certain elements must be present. These include:

There is a legitimate, enforceable partnership agreement

Your business partner has broken one or more conditions of the contract

You or your company has suffered losses as a result of the breach

If all of the above are present, you may have grounds to sue your business partner for breach of the partnership agreement.

  1. Abandonment

When a business partner leaves the partnership, it is called abandonment. In some cases, even if the company partner is not actively working, he or she may continue to get a payment. Abandonment can be used as a basis for suing a business partner because it is a breach of fiduciary obligation.

  1. Negligence

For negligence claims to be legitimate, the following factors must be present:

Duty: Your business partner has a responsibility to you and the partnership. This responsibility of care necessitates that business partners make decisions in good faith.

Breach: When operating on behalf of the partnership, your business partner was negligent.

Causation: The partnership suffered as a result of the breach of duty.

How a Lawyer Can Help

It’s a difficult decision to decide whether or not to sue your business partner. We at Brockmeier Law Group understand this and know that you need an attorney who will give you the personal attention you deserve. Get in touch with an experienced Irvine business attorney today and let’s see how we can help you.