Question

How do I handle a dispute with a business partner in New Jersey?

John A. Schepisi

Answered by:
John A. Schepisi

Located in Englewood Cliffs, NJ
Schepisi & McLaughlin, P.A.

John A. Schepisi - Real Estate - Super Lawyers

Answered by: John A. Schepisi

Schepisi & McLaughlin, P.A.
Englewood Cliffs, NJ
Phone: 201-569-9898
Fax: 201-569-5350

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Answer

Handling a dispute with a business partner can be extremely challenging. The best way to approach it, if the partners cannot work out the conflict themselves, is to hire a firm experienced with handling business litigation. An experienced lawyer can advise you of what to expect in the litigation process and protect your rights and the viability of your business during a dispute with your partner. Although it may seem simple to hire lawyers and allow them to handle the proceedings, unless you hire a firm that is aware of all the issues you can face in a litigation, you run the risk of winning the battle but losing the war by having all of your funds spent on litigation while the business is run into the ground by your partner or while all the money in the business is spent on the court process. One of the issues that an experienced lawyer will be able to alert you to includes the right to make an application to the court to have restraints put in place to prevent a business partner from wasting assets or dissipating funds during the litigation. In addition, a lawyer can advise you on the merits of having a receiver put in place, who manages the business while the partners deal with their conflict. Most importantly, your attorney should advise you on alternatives to litigation, such as mediation and arbitration, which could assist you in resolving your disputes without as much expense or risk as is posed by litigating in court.

Disclaimer: The answer is intended to be for informational purposes only. It should not be relied on as legal advice, nor construed as a form of attorney-client relationship.

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