A contract dispute with a vendor disrupts your business and creates unnecessary stress. Whether the issue involves pricing, delivery delays, or service quality, taking a practical approach helps resolve the problem without escalating tensions or damaging business...
Partnership/Company Agreements And Disputes
What happens if there is a breach of fiduciary duty?
A fiduciary duty is a legal obligation to act in the best interest of another person. This duty is often found in relationships like attorney-client, doctor-patient, and trustee-beneficiary. It can also be a relationship between or within companies. When a fiduciary...
What to do when your business partner violates your agreement
A partnership is a business entity where two or more people combine to form a business with the goal of making a profit. To protect their interests in their business, they should sign a written partnership agreement. You fulfill your obligations run your business in...
How can I avoid partnership disputes?
Entering into a business partnership is a significant opportunity for growth and expansion. Finding the right business partner could bring in resources, diverse expertise and values, helping the business thrive and reach new heights. However, even the most perfect...
The difference between bylaws and a shareholders’ agreement
In starting any corporation, you must draft a formal set of rules and regulations that govern the company's day-to-day operations. Bylaws ensure the corporation adheres to a certain standard and that everyone knows their role in the company. A shareholders’ agreement...
Should my lawyer participate in mediation?
Mediation provides an opportunity to settle business disputes without hiring a lawyer. During this process, the parties involved discuss the dispute and, with the help of a neutral mediator, work together to come up with a satisfactory solution. There are situations,...
What type of business partnership should you choose?
If you are setting up your business in Texas, it might be a good idea to consider establishing a partnership. A partnership is one of the most common business entities. In a partnership, two or more people share ownership of a single business. It’s a great way to grow...
What are the terms of a limited partnership in Texas?
A limited partnership ("LP") in Texas is comprised of general partners and limited partners. Limited partners do not have personal responsibility for the business's debts and legal activities (unless they sign a personal guaranty). They also have less control than the...
Three effective ways to resolve a partnership dispute in Texas
Partnerships can be a great way for business owners to pool their resources and create a successful business. However, when disputes arise between partners, they can lead to business interruption and even legal action. While it is often best to avoid partnership...
A guide to mediation and arbitration in Texas
Not all business disputes are solved in Texas courts; there are various alternative methods that often produce better results and are more affordable and faster. The two most common alternative methods are mediation and arbitration. Understanding mediation Mediation...
