Understanding Partnership Disputes and Your Legal Options
Do you have a partnership dispute and are unsure of what your legal remedies are? Hi, I’m Tahlequah criminal attorney Aaron Grubb at Wirth Law Office. In this video, we’re gonna talk about what actually constitutes a breach of fiduciary duty for a partnership and what kind of legal actions could be taken.
First off, if you have some sort of dispute with your partner, it can sometimes amount to a breach of fiduciary duty. All partnerships have fiduciary duties to each other and the partnership, which include the duty of good faith and the duty of loyalty. If you or your partner does something contrary to the partnership’s interest, it may be deemed a violation.
Identifying Breach of Fiduciary Duty
For example, if you sell the equipment on eBay for pennies on the dollar and then take the proceeds and run to a different state, that’s a clear violation of a fiduciary duty. It’s crucial to accurately identify the conduct that constitutes a breach of fiduciary duty. Legal assistance is essential in these scenarios, but if you know that your partner or another individual in your business organization has breached this duty, further actions may be necessary.
There can be possible criminal implications in such cases, particularly if it involves white-collar crimes like embezzlement. If you have a partner who legally handles certain equipment or proceeds and then absconds with those assets, this could ground a case for embezzlement. It is vital to consult with an attorney to protect your interests.
Protecting Your Interests
In the event of a breach of fiduciary duty or any criminal conduct, engaging an attorney early is crucial. They can help initiate the right legal actions to protect your rights and your company’s assets. You deserve to have professional guidance when dealing with complex partnership disputes.
Get A Low-Cost Initial Strategy Session
If you have a question regarding partnership disputes, let me know. Again, my name is Aaron Grubb, and I’m a Tahlequah defense attorney at Wirth Law Office. Call us today for a low-cost initial strategy session at (918) 458-2677 to discuss your situation and explore your options.
