Partnership and Shareholder Counseling and Disputes

Our Partnership and Shareholder Counseling and Disputes Practice assists clients with new entity formation, as well as handling disputes.

L&K lawyers work closely with our clients to decide how best to structure new businesses to be positioned to achieve their objectives, with due regard to which type of entity will serve client needs, tax considerations, dispute resolution solutions, management control, and exit strategies for owners. It is critical to have objective decision making, dispute resolutions and exit options in place before circumstances change. LLC Operating Agreements and Shareholder Agreements are the business’ prenuptial agreements and when drafted thoughtfully can make the business relationship flourish and if necessary make separation straightforward, if not painless.

Over time, business and personal circumstances change and carrying on a business through a partnership or a closely held corporation may no longer be beneficial or practical: partners may have diverging goals or may wish to cash-out in a manner that ensures that successors and heirs will benefit. Our business attorneys work closely with our tax and estate planning attorneys to develop succession and estate plans that meet the goals of all concerned.

Our business attorneys also work closely with our trial attorneys when a dissolution arises from less favorable circumstances such as: a breach of fiduciary duty; management and control disputes; involuntary withdrawals or desire to terminate one of the partners; or where corporate opportunities are usurped. Our attorneys have successfully mediated and resolved hundreds of partnership or shareholder issues. We are well versed with understanding and resolving both the legal framework, the tax implications and the psychological and other non-legal motivating factors that often permeate these negotiations.

When an amicable settlement is not possible our knowledge of the corporate code, permissible corporate action and pre-judgement remedies allow our clients to keep the business running while litigating any disputed issues.

Our attorneys have substantial experience in resolving any types of partnership or shareholder issues and disputes  …