In Memoriam—Roger Schrimp (1941-2016)
Roger Schrimp, a senior shareholder of the Damrell firm and valued colleague and friend, passed away unexpectedly on …
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While business disputes often occur between a company and its clients, customers, vendors or competitor businesses, they can also occur within the business itself. Partners can disagree on business purposes, operations, expansion plans to take a company public or other issues, which create an impasse for a business’s success. At Damrell, Nelson, Schrimp, Pallios, Pacher & Silva, our attorneys work closely with business owners in Modesto and throughout Northern California to resolve disputes and protect their business interests and investments.
Mediation and arbitration are two alternatives to business litigation that can often help company owners resolve business disputes in a more timely and cost-effective manner. Our firm works with clients to tailor the legal strategy that best serves their needs and safeguards their investments. Depending on the factors involved with the dispute, litigation may be necessary to offer clients’ legal protection, even when an appropriate settlement can be negotiated outside of court at some point during the litigation process. Attorneys at our firm have extensive experience dealing with sophisticated business disputes that involve complex issues.
Partnerships can involve business co-owners, investors or establish fractional ownership arrangements. When a company does not drive the level of anticipated profits or involves conflicts over profit use or business direction, disputes often arise that challenge the partnership’s continued existence.
Re-negotiating partnership agreements is one option that can help business owners avoid litigation. Some partnership agreements incorporate alternative dispute resolution, such as mediation or arbitration clauses that assist partners in avoiding business dissolution, which is typically a last resort.
Partnerships often are weighed differently, where one partner has more financial decision-making capability and the other has more control over business operations. When partners cannot agree, they have the option of one partner selling his or her business share to the other partner.
Dissolving businesses sometimes involves adherence to the business dissolution strategy outlined in the original business agreement. When business partnership dissolution is an option, it requires strict compliance with California laws and the dissolution process must divide fairly the company's assets and liabilities and render void the original business agreement. Our lawyers assist clients with business valuation and determining the dissolution's effect on loan agreements, leases and contracts. Appreciation of company owned property along with business and employer taxes are also considerations that clients must address as part of the business dissolution.
Whether preserving a business partnership through dispute resolution, renegotiating partnership agreement, buying or selling a business share of another partner or dissolving the business, savvy business owners turn to experienced Modesto attorneys for legal guidance. Damrell, Nelson, Schrimp, Pallios, Pacher & Silva offers Northern California clients expertise acquired from nearly five decades of business law experience. For more information regarding our business dispute resolution practice, please contact our offices to schedule a consultation.