You are about to enter into a new business venture or idea. You have found the right partnership who will compliment and help bring this idea to fruition. The business that you will be doing with this new partner you believe will be very successful for both parties. You both are so excited to get started that you believe all the minor details (contract) is secondary, after all you wouldn’t be starting this venture if you didn’t have trust in one another right? So you shake hands and get started.
Fast forward several months and you now find yourself in a business dispute and caught up in a long expensive litigation process. Where did things fall apart and how could this have been prevented?
The above described is common with many business partnerships and ventures. It is important to remember that even in all the excitement of a new business relationship, both parties should take the time and lay out a clear, precise contract that explains and deals with potential problems that may arise. A review by an attorney, with the purpose of preventing future possible litigation, is strongly advised and money well spent. Taking your time now will save you and your new partnership precious time and money should things not progress the way you both had hoped.
If you are in need of contract guidance and or are caught in business litigation, give the attorneys of west palm beach a call at (561) 659-5522