New York Partnership And Joint Venture Disputes
Partnerships and joint ventures enable entities to pool resources to achieve common goals. When disputes arise, jeopardizing the success of these collaborations, a business real estate lawyer can offer guidance.
Fadullon Dizon Krul LLP is a boutique law firm experienced in commercial real estate litigation. They pride themselves on being innovative and creative thinkers, serving businesses in the boroughs of Queens (Woodside), Brooklyn, Bronx, Manhattan and Staten Island, as well as Westchester, Nassau (Jericho) and Suffolk counties.
What Constitutes A Partnership Or Joint Venture?
A partnership is a formal arrangement between two or more parties to manage and operate a business together.
On the other hand, a joint venture is a strategic alliance where parties come together for a specific project or business activity.
Types Of Disputes
The various types of disputes include:
- Breach of fiduciary duty: Breaches can occur when a partner acts in self-interest, fails to disclose important information or engages in unethical behavior.
- Mismanagement of assets: This can include unauthorized use of funds, poor investment decisions or neglecting maintenance of critical assets.
- Profit-sharing disputes: These disputes often stem from misunderstandings or ambiguities in the initial agreements.
- Operational disagreements: Conflicts over business decisions, management roles or operational strategies are common in partnerships and joint ventures.
- Breach of contract: Breaches can include failure to meet contractual obligations, unauthorized actions or noncompliance with agreed-upon terms.
- Exit strategies and buyouts: Disputes over how partners or joint venturers can exit the business and how buyouts are handled can be particularly contentious.
Navigating the complexities of partnership and joint venture disputes requires experienced legal guidance for ideal results.
The Firm’s Services
The firm offers the following services:
- Litigation
- Mediation and arbitration
- Contract drafting and review
Their ongoing advisory services help manage and mitigate potential conflicts, helping ensure partnerships and joint ventures operate smoothly.
Common Causes Of Disputes
Detailed and clear partnership or joint venture agreements are crucial. Ambiguity can lead to misunderstandings and conflicts.
Additionally, financial management and accounting issues can cause significant disputes. Also, conflicts can arise from perceived or unequal contributions by partners or joint ventures. Changes in market conditions and business goals can also cause disputes.
Let A New York City Law Firm Help You And Your Business
The skilled attorneys at Fadullon Dizon Krul LLP understand how disputes and conflicts can disrupt a partnership or joint venture. The experienced New York City attorneys can help you overcome the obstacles you may face. Call 347-967-4087 or complete the firm’s contact form today to schedule a consultation.
The experienced NYC attorneys at Fadullon Dizon Krul LLP serve the boroughs of Brooklyn, Bronx, Manhattan, Queens and Staten Island as well as Westchester, Nassau and Suffolk counties.