As a Louisiana business owner, it is almost inevitable that at one point or another, a dispute over some portion or operation of your business may arise. When this happens, it will quickly become evident how important it is for a business to be set-up properly from the start. By consulting with a business attorney who can expertly draft binding legal contracts, a business owner can be assured there are adequate protections in place for when disputes do arise.
There are five common types of business disputes. Breach of contract occurs when one party or another does not perform duties as agreed. Non-compete Agreement disputes happen when an employee who has signed one leaves one employer to go work for a competing business. Generally, a non-compete will barr an employee from working for a competitor for a set period of time. These can also arise when an ex-employee solicits business from your customers, after signing an agreement stating they will not do so for a set amount of time. Partnership disputes arise when one business partner does not agree with a specific decision, or would like to take the business in a different direction than the opposing partner.
Shareholder disputes can balloon into a crippling issue for a company. When shareholders trust is broken between each other, all kinds of problems can surface. Fiduciary duty may be questioned, majority and minority shareholders may not be in agreement, or financials may not be adequately reported. Any of these can cause a major rift in a company’s operations, and should be addressed with a business attorney who can help resolve matters quickly.
Finally, intellectual property disputes can happen. These can include copyright, trademark, or patent infringement, and can become extremely complex matters involving significant financial damage. Regardless of the reason for a business dispute, any business owner should do everything possible to prevent any of them from happening. Consulting with an experienced business attorney can alleviate any concerns, and provide a solid foundation for your business future.