Legal Guidance When You Are Navigating A Business Divorce In New Jersey
Every business partnership starts out with a lot of enthusiasm and expectations for the future – but business partnerships do not always work out. When a partnership falls apart and the partners move on, it is sometimes called a “business divorce.” Like any divorce, the situation requires careful handling.
I founded my firm, The Law Office of John A. Fialcowitz, LLC, to use my 25-plus years of experience to help business partners, shareholders and LLC members in Morristown resolve their business disputes. I understand the issues that have to be addressed when partnerships end in New Jersey, and I can guide you through each step of the process while protecting your interests.
Why Do Business Partnerships End?
All long-term business relationships can have their ups and downs, and some never recover from the tough times. The most common reasons partnerships end include:
- Divergent goals and visions
- Personal disagreements
- Financial issues and disputes
- Health issues affecting a partner
- Retirement plans
- Fraud and embezzlement
- Breaches of fiduciary duty
- Market shifts and industry trends
- Shareholder disputes
- Violations of the partnership agreements
Business divorces generally involve the division of business assets, including equipment, real estate, intellectual property and other financial assets. Valuing the business and its assets can be a huge source of contention, since that ultimately affects what each partner receives. Having attorney representation is essential for a fair and equitable split.
Protect Your Business Investment With A Phone Call
Most of the time, a business divorce is resolved through negotiations, arbitration or mediation, but when going to court is needed, I am undaunted by the prospect of litigation. I make sure that my clients always understand their legal options so that they can make informed decisions.