Partnership Disputes

There are few things in life more exciting, or challenging, than starting and running a business. The amount of hours, capital, and hard work required to make a startup company successful is immense. Entrepreneurs often find themselves spending more time with their business partners than their families. In fact, business partners are like a second family – and with an added layer of fiduciary duties. Business partners share in each other’s struggles and triumphs. And it is imperative for business partners to be able to rely on and trust each other. That is why the emotions and stakes are so high when litigation arises between business partners (or former business partners).

IMcP’s partnership dispute lawyers have a wealth of experience representing business owners in lawsuits in which their company — and the substantial equity they have built in their company — is on the line. The partnership dispute lawyers at IMcP have represented business owners across many industries, including oil and gas, manufacturing, real estate, healthcare, retail, finance, medical, transportation, and others. The majority of IMcP’s partnership dispute cases are in Texas. IMcP’s partnership dispute lawyers handled lawsuits between fiduciaries and business partners in numerous Texas counties, including Dallas, Collin, Tarrant, Harris, Travis, Bexar, Denton, Rockwall, and Midland. Business owners have also entrusted IMcP’s partnership dispute lawyers to handle high-stakes disputes (in which millions of dollars are at issue) in various other states throughout the country, including New York, California, and Michigan.

In addition to representing officers, directors, and executives of large corporations, the partnership dispute lawyers at IMcP focus a significant amount of their commercial litigation practice on protecting the interests of members in closely-held limited liability companies (LLCs and PLLCs) and partners in limited liability partnerships (LLPs). IMcP’s partnership dispute lawyers have experience representing both majority-in-interest owners and minority-in-interest owners. The experience IMcP’s partnership dispute lawyers have gained in representing both majority and minority interest holders is invaluable in their ability to identify, and advise their business owner clients on, the strengths, weaknesses, and risks of their case (and those of their opponents).

Law firms have hired IMcP regarding those law firms’ partnership disputes and departures.

IMcP’s lawyers have seen and successfully handled nearly all types of partnership dispute issues, including claims regarding:

• Breach of fiduciary duty;
• Breach of contract (e.g., claims regarding breach of the company agreement, operating agreement, or partnership agreement);
• Tortious interference;
• Fraud and fraudulent inducement;
• Derivative claims;
• Shareholder oppression;
• Director or officer liability;
• Civil conspiracy;
• Demand for books and records or an accounting;
• Application for appointment of a rehabilitative receiver;
• Partnership breakups or business divorces; and
• Forced buyouts or forced redemptions of equity interests or shares.

The significant experience IMcP’s partnership dispute lawyers have gained in handling all these issues means they are battle tested. It means IMcP’s partnership dispute lawyers are able to look multiple moves down the chess board, identify the issues coming around the corner, and develop/execute a game plan with both the success of your lawsuit and your business in mind. IMcP’s partnership dispute lawyers know the importance of understanding your company’s/firm’s governing documents (e.g., your company agreement, bylaws, articles of incorporation, etc.); the case law and statutory provisions applicable to your business entity (e.g., the protections, rights, and remedies provided under the Texas Business Organizations Code); and — perhaps most importantly — your business.

It is vital for any lawyer handling a partnership dispute to put in the effortand energy needed to understand and know the client’s business. IMcP’s partnership dispute lawyers are dedicated to doing just that in all their partnership dispute cases. IMcP’s partnership dispute lawyers do not take lightly the trust their business owner clients put in IMcP to save or protect their company and the equity in their company they worked so hard to create and earn.