The Litigation Team regularly counsels business partners to resolve disputes between shareholders, members and partners of closely held corporations, partnerships, limited liability companies (LLCs) and family-owned businesses.
Phillips Lytle attorneys counsel businesses and their owners related to buyouts and other transactions, executive compensation matters, succession planning, insurance coverage, risk management, labor and employment matters, corporate tax issues and intellectual property matters. We also represent businesses and owners in business dissolutions and business partnership disputes. Our Litigation attorneys also have extensive experience in providing guidance for law firm dissolution.
We represent closely held businesses and their owners in intra-corporate disputes. Our attorneys are frequently retained by clients facing issues involving majority and minority shareholder disputes, business partnerships, management or governance issues, business succession planning, employment disputes, admission of additional shareholders or members, breach of fiduciary duty and fraud claims, theft of trade secrets, dissolution, freeze-outs, business and asset valuation disputes, breach of contract claims, non-compete and/or non-solicitation agreements, cyber incidents, and wrongful use or misappropriation of business opportunities and assets.
We also advise clients on risk management issues and how to avoid litigation, and can assist with contracts or review of a partnership agreement.
We also have extensive experience navigating complex partnership agreements, operating agreements and bylaws. Our attorneys represent majority and minority owners of accounting, engineering, medical and other professional firms regarding shareholder or partnership disputes and dissolution.
Law firms present issues unique to a business dissolution or transitioning due to particularly intertwined legal, ethical and commercial issues. We represent law firms of all sizes, practices areas and geographic platforms, as well as law firm partners. We are experienced in providing effective legal, ethical and business solutions to law firm partnership disputes. Our experience includes:
We are often retained by closely held businesses or their owners regarding claims of wrongdoing by a business partner such as a principal, contractor, vendor or trusted employee. These include allegations of fraud, breach of fiduciary duty, diverting funds and misappropriation of business assets. These matters often require swift action, including preserving records, protecting trade secrets and other confidential business information, and seeking emergency relief such as temporary restraining orders, preliminary injunctions and orders of attachment or seizure.
We frequently work with forensic accountants, cybersecurity professionals and other experts to uncover potential wrongdoing in a business relationship, defend against such claims, or to mitigate and redress future harms.
Disputes between business partners often involve the valuation of a business or an ownership interest. Our attorneys work collaboratively with forensic accountants, real estate appraisers and business valuation experts to advocate effectively for our clients, including in the context of a buyout, freeze-out or dissolution. This includes working with business valuation professionals to negotiate and successfully resolve partnership disputes out of court, litigate pre-trial issues and present expert testimony at trial.