A Money Dispute Amongst Business Partners: What a Lawyer Can DoShare
Are you fed up with your business partner giving you an unequal share of the profits that both of you work hard for? You may want to seek assistance from a litigation lawyer so he or she can determine if you have the right to file a lawsuit for the money you are owed. Discover below what a lawyer can do about the money dispute between you and your business partner.
How Can a Lawyer Assist When Business Partners are in a Dispute?
When you sit with a lawyer to discuss your dispute, he or she will ask if you and your business partner signed a contract. Unless there is a detailed business contract that clearly shows how the profits are to be distributed, it can be a difficult task proving that you have the right to be compensated. However, if you have a contract, the lawyer will be able to look over it to find out if you have a strong argument against your business partner. The lawyer will thoroughly read the fine print in the contract to make sure there is not anything written that can forfeit your rights to an equal percentage of the profits.
The next step taken by the lawyer will be performing an investigation on your business partner's personal assets. For instance, the lawyer will find out the amount and frequency that your partner is placing money in his or her bank account. Big purchases (house, vehicles, and vacations) will also be investigated. The lawyer will also determine how much income your partner was bringing in before the business got started, as it can act as evidence that he or she is affording large purchases by using stolen profits from the business.
Settling the money dispute will first be handled through mediation, but only if your business partner agrees to it. Lawsuits are best handled through mediation to prevent a court battle that can take a long time to settle. If mediation is not successful, your lawyer will handle the issue in court to let the judge decide who is right and wrong.
How Much Does a Litigation Lawyer Charge Clients?
You are looking to spend an hourly rate of at least $90 for a litigation lawyer to handle your case. If your business partner is uncooperative and won't settle during the mediation session, you can be charged as much as $500 plus per hour due to the complexity of the case. If you're looking for more information about commercial litigation lawyers, click here for info.