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When is a lawsuit necessary in a business dispute with your partners/co-owners?

On Behalf of | May 9, 2023 | Commercial Law and Litigation

Disputes are practically unavoidable when doing business with a partner or multiple shareholders. While some small-scale disagreements are easy to resolve through reasonable negotiation or by following procedures outlined in your partnership or other agreement, some might require more drastic measures.

If a partner or any other entity related to your business is taking action that damages your company and refuses to compromise on a solution, a lawsuit may be the necessary course of action. It is important to know exactly when a lawsuit is your best option and how you can achieve a favorable outcome.

Is a lawsuit your best option?

Lawsuits may expose the private affairs of your business to the public. You should also keep in mind that the New Jersey courts require a filing fee starting at $250 payable to the Treasurer.

However, there are times when only the court’s judgment can bring wrongful acts to justice. A lawsuit may be a particularly strong option for you if you have decisive evidence against the other party or if they are blatantly in violation of a binding business agreement.

How can you secure a favorable outcome in a business lawsuit?

If the terms and phrasing of your contracts and other business documents favor you in your business dispute, then you likely already have an advantage over the other party. Keep in mind, though, that there are many complexities to navigate in any business dispute.

Working with a professional with experience in contractual disputes can give you the best chance to build the best possible case.