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Disputes that your business may have to deal with

On Behalf of | Feb 26, 2024 | Business Law

Running your own company can bring a lot of personal and professional satisfaction. You get to be your own boss and represent a brand that you have built.

That being said, running a business is by no means easy. There are a number of potential legal disputes that you may have to deal with. Here are a few things to keep in mind.

Shareholder disputes

Shareholders have a stake in the company. In some cases, this is a majority stake, and in other cases, it can be as little as 1% of the company. The voting rights of shareholders can also vary. Nonetheless, shareholders have a vested interest in the company.

If the company goes through a rough patch or is looking for ways to expand, shareholders may not always agree on which direction to take. Minority shareholders may feel left out on key decisions. Majority shareholders may feel threatened and that they are losing a grip on the company. Shareholder disputes are one form of legal challenge that you may have to deal with as a business owner.

Contractual breaches

Contracts will play a key role in your daily life as a business owner. If you have a business partner, then they will be bound by the terms of the partnership agreement. You may also have contracts with vendors, suppliers, staff, customers and other businesses. If a party breaches their side of the agreement, then this can result in disputes. Contractual breaches are likely something that you’ll have to deal with at some point.

These are just two types of legal disputes that you may have to address. Partnership disputes and employment issues are other aspects that you may have to deal with. Whatever legal challenge you are facing, it will benefit you to have guidance on your side.