Tennessee is an enormous business hub. The city is home to a vast number of established enterprises. Furthermore, a lot of them are owned by many people; therefore, there may be conflicts among them regarding how to run their businesses. This might result in contentious legal disputes between owners, shareholders, or partners, casting doubt on the company’s ability to grow and prosper in the long run.
In order to make sure that you are not being oppressed and that no illegal activity is occurring that would violate your rights, you can be represented in these situations by The Ebbert Law Firm, which has registered a lot of wins in these cases.
Why Can A Business Partner Start Acting Stange?
Conflicts between shareholders and partners can arise from a variety of reasons, most commonly from breaking bylaws or agreements. Specifically, to name a few of the more prevalent ones, there is a lot. A breach of fiduciary obligation might have happened. This might include a fiduciary duty being breached to shareholders with small stakes.
Breach of contract, encompassing disagreements or confrontations on profit distribution, compensation, ownership stakes, and a variety of other issues. All this can cause your partner to go all silent and start acting weird with you. Tortious interference deals with issues of unfair competition. Any form of corporate fraud that takes advantage of other partners or shareholders in order to enrich oneself at the expense of others is considered fraud.
What Can Be Done To End It?
There are typical approaches to resolving conflicts in business:
There are several options available to settle the ongoing disagreement between partners or shareholders, depending on the specifics of your case and the circumstances; in other situations, filing a lawsuit could be required. Several alternatives exist for settling business-related conflicts. However, the best approach is to talk it out and develop an understanding of the situation.
- Settlement
If the two individuals cannot sort it out by themselves, they will need someone else to do the work for them. A mediator assists the disputing parties in coming to a mutually agreeable resolution of the complaint through a flexible and informal method.
- Conflict Resolution
Rather than proceeding with the issue in court, the disputing parties submit the matter to a number of mediators, who then provide a verdict.
- Litigation
This basically involves suing the opposing party and bringing the dispute before a formal court. After the parties submit their respective cases before a judge or jury panel, the matter is eventually brought before a formal court for judgment when the opposing parties are unable to settle it amicably among themselves.
An attorney is someone who has the necessary training and understanding of Tennessee law. It is thus strongly advised that you get in touch with one as soon as you can.