There are many reasons that anyone considering starting a business or going into business with anyone else should work with a California business attorney. Today we’re here to discuss how you can plan effectively to avoid ownership disputes months or years down the road. To learn more, keep reading, and then contact Law Offices of Torrence L. Howell at (909) 920-0908 for your free case evaluation.
It’s essential to have a business plan that offers specifics about ownership
If you don’t have an agreement that’s been signed by all parties stating how, where, and when any and all owner disputes will be settled, then you could end up in a very complicated situation the future. In most of those cases, you’ll be at the mercy of California provisions that may or may not work for your company. The best way to avoid this situation is to work with an attorney who can create and explain documents that will clearly outline these issues.
Figuring out the details after there’s an issue is much harder
Too often we see friends or family members go into business together and ignore advice to put everything into writing. They may have had a relationship for decades and they assume that it will continue the way it’s always been.
In some cases, that’s how it works – the business runs smoothly and there are no issues. Unfortunately, in most businesses there will come a point when there will be a business dispute about something significant. If you wait until there is already a problem before you draw up plans on how to resolve those problems, then it will be much harder to agree on how to handle the situation.
All relationships lead to disputes eventually
Can you think of any relationship in your life that doesn’t have a conflict now and then? Most people can’t. When you sit down with your future business partner to discuss how you’ll handle future conflicts and agree on a plan ahead of time, when the time comes up that there’s an issue, it’ll be solved much more quickly and easily. When you create a specific, step by step plan on how to handle these issues, you can avoid wasting hours, weeks, or even months arguing and can instead focus on building your business.
Work with an attorney who can help with all your business law needs
At Law Offices of Torrence L. Howell, we have the experience and expertise to help you with any and all business law needs. If you’re about to start a business and you don’t know whether you should incorporate, become an LLC, etc., give us a call at (909) 920-0908. If your company is about to change ownership and you need an attorney’s opinion, reach out to us.
No matter what your business law needs are, there are several things you can count on: We will offer you a free case evaluation and let you know what your basic options are and we will fight for fair, fast, and solid solutions to all issues of business law.
