When parties come together to form a joint venture, they may have long or short-term goals for their enterprise and relationship. Over time, it may be that one or both partners are ready to move on or that the business relationship needs to conclude because of a triggering event. Whatever the case may be, negotiating a settlement agreement and buyout with a partner can be complicated. Therefore, it’s essential to have an experienced Florida business attorney assisting you during these processes.
Reasons for Ending a Florida Partnership
Some common reasons for partners ending their relationship may include one or both parties wanting to move on to other opportunities or them having different goals for the enterprise. A partnership may also end because of a dispute. Partnership disagreements may be due to a variety of issues. Some of these may include breach of contract, breach of fiduciary duty, misappropriation allegations, partnership agreement issues, non-compete violations, profit and loss matters, and other business-related matters.
Negotiating a Settlement and Buyout Agreement
Not all settlements will involve a partnership dispute. However, multiple variables are usually considered when a partner wants to acquire another’s interest in a shared enterprise. Further, there will usually be an existing partnership agreement.
Whatever the case, it’s essential to recognize that the decisions made during this transition have legal implications. Consequently, it’s vital to have accurate and comprehensive advice at every stage of the process. By working with an experienced Florida business attorney, you can help ensure that you have the advice you need to evaluate the transaction and protect your interest.
When you want to ensure that your small business comes out with a settlement that protects its interests and future. Likewise, your buyout agreement should be drafted to safeguard what you have built and minimize potential liability and litigation. Your Florida business lawyer will have the experience and knowledge to help you look at these transactions from every angle so that you can make informed decisions. Your counsel will also be there to help you plan for the future of your enterprise.
At the Florida Small Business Center, we understand all of the aspects that must be considered during partner settlement negotiations. We also know how to help our clients formulate a buyout agreement with their partners. Unfortunately, there are countless ways this process can go wrong, and you need to be certain you are working with counsel who can help you avoid problems now and in the future. Attorney Richard Sierra understands the complexities of ending a Florida business partnership and can help you evaluate your circumstance and make decisions that support your enterprise’s well-being and goals. He can also help you construct a buyout agreement with the right language and terms for your transaction.
Contact an Experienced Florida Business Lawyer
Attorney Richard Sierra at the Florida Small Business Legal Center assists clients like you with commercial leasing, business, and litigation matters. As always, Our Goal Is to Help You Succeed™. For an appointment, you may call us at 1-866-842-5202 or use the contact form on our website. We represent clients throughout the State of Florida, including Coral Springs, Coconut Creek, Boca Raton, Delray Beach, Pompano Beach, Sunrise, Fort Lauderdale, Miami, West Palm Beach, Jupiter, Deerfield Beach, Stuart, Port St. Lucie, Orlando, Naples, Fort Myers, Sarasota, Tampa, and surrounding communities.