Partnership Break-Down

PARTNERSHIP BREAKDOWN LAWYER

As with any business venture, partnerships are subject to breaking down, which in turn demands that appropriate responsive action be undertaken. For when there is a breakdown in a partnership arrangement, the situation will invariably spiral downward and decimate the partners and the business that they have created.

Where a partnership arrangement has broken down, the partners need to make a pivotal decision as to how they intend to overcome such a business altering event. Either the partners need to overcome their differences and formulate a new strategy that enables the partners to set upon a new path, with a new structure, that will allow the partners and their partnership to move forward and restore its pursuit of business success, or alternatively one or more of the partners will need to buy-out the other partners, such that the disengagement from the bought out partners will hopefully facilitate the restoration of the business enterprise. If neither path is undertaken, the partnership shall inevitably spiral downward, from which there is little, if any, possibility of recovery. 

Given the seriousness of a partnership breakdown, it is imperative that you retain the legal counsel of an experienced lawyer who can advise you in dealing with this partnership breakdown and implementing a strategy that will see you through this tumultuous phase of the partnership. As such, for knowledgeable legal representation in the realm of partnership breakdowns, contact lawyer Christopher Neufeld with Neufeld Legal Professional Corporation at Chris@NeufeldLegal.com or 403-400-4092 (Calgary, Alberta) or 416-887-9702 (Toronto, Ontario).