Knoxville Shareholder & Partner Disputes Attorney
Business owner disputes cause personal stress, but they also threaten to derail a business and cause it to lose valuable market share. Owner disputes might also result in loss of valuable employees or negative media coverage. Resolving these disputes in an efficient and cost-sensitive manner is vital for your organization’s future.
At Brezina Law, our Knoxville shareholder & partner dispute attorneys work closely with clients to reach a favorable resolution to their disputes. Contact us today to learn more.
Types of Disputes We Handle
In general, corporations are owned by shareholders, while limited liability companies are owned by members. Partners, of course, make up a partnership.
We can assist with any type of dispute between shareholders/members or partners, including:
- Breach of a shareholder agreement. A shareholder might violate the shareholder agreement by selling shares to a competitor, for example.
- Termination of a shareholder agreement. One or more shareholders might wish to terminate the agreement outright, threatening the future of a corporation.
- Claims against a controlling shareholder for fraud, oppression, or illegality. Controlling shareholders can abuse their power and harm minority shareholders in the process.
- Misappropriation of funds. Officers or directors could use funds in impermissible manner, triggering a shareholder suit.
- Breach of a fiduciary duty. Those who run a business owe duties to their shareholders, including the duty of care and duty of loyalty. Often, however, corporate officers or partners breach these duties by self-dealing or acting in a negligent manner.
- Partner or member divorce. Business assets, including stakes in an LLC or partnership, could be considered marital property under Tennessee law. Consequently, a spouse could become an owner of your business upon divorce, even though he or she has no dealing with the organization before.
To better learn if you have a legal dispute, contact our Knoxville shareholder and partnership disputes attorney to review.
How Brezina Law Can Help
We begin by reviewing the company’s foundational documents, such as a corporation’s bylaws or a partnership agreement. These documents often lay out how to resolve disputes. They also can allocate decision-making authority, which might be a source of disputes. Unfortunately, some foundational documents are lacking in detail or confusing, so background principles of corporate or partnership law will apply.
We can also discuss potential remedies. Some disputes go to the heart of an organization’s purpose, so one remedy might be selling your interest in the business to other owners. In other situations, we might seek money damages or the removal of a director or officer.
A business’ reputation is also vulnerable during any shareholder or partnership dispute. The Knoxville business community is small, and if competitors catch wind of a dispute, they might use it to their advantage. We perform legal services with the highest regard for our client’s confidentiality.
Speak with Us Today
E. Michael Brezina has worked for years in the Knoxville community as a legal advocate. He is prepared to help with any business law dispute, including controversies involving shareholders, members, or partners. To learn more about his services, contact Brezina Law today to schedule a consultation.