Business Partner Betrayal - Dallas Business Law
Business Attorney Serving Dallas and North Texas
What to Do When Your Partners Betray You
The vast majority of people who are in business in Texas are in very small businesses – businesses with two to five owners. Sometimes a small business operates as a partnership, but equally often the business operates as a corporation.
Regardless of the way that the business is formally organized, there are issues and risks that are unique to being one of several owners of a small business. One of the issues that our Dallas business law attorneys see quite often is this: "What does the owner of a quarter or a third of a business do when the other owners cheat him or try to push him out of the business?"
You Need an Experienced Business Lawyer
This kind of business partner betrayal happens a lot, particularly when there are other tensions between the business owners. And it is a serious problem. For most small business owners, the income they get from the business is the only income they have. Many people have quit their former jobs and invested all that they have in the small business, so if their partners suddenly try to push them out, they are left with nothing.
If you have been the victim of this sort of business partner betrayal, the law provides a way to deal with your situation. However, it is important that you seek legal help right away. The longer you delay, the weaker your case will be and the harder it will be to get a fair recovery. The business law attorneys at Polewski and Associates can help.
Classic Signs of Business Partner Betrayal
There are classic signs that your business partners are trying to freeze you out:
- Are they having meetings among themselves that you aren’t invited to?
- Are they making important decisions about the operation of the company without consulting you?
- Are they concealing the income and profits of the business from you and preventing you from seeing the books of the business?
- Are they buying things for themselves and family members using money from the business?
- Are they complaining that you "don't do enough" or that you are "paid too much?"
- Are they decreasing your involvement in the operation of the business?
- Are they hiring their own relatives to handle financial issues or to do things that you used to do?
These are all very bad signs, and are typically followed by an open demand that you leave the business.
Call Us Before You Do Anything Else
If you see these storm clouds building in your business future, you should contact a Dallas business lawyer familiar with this kind of business dispute immediately. When your partners are planning to push you out of your own business, they are already far ahead of you in preparing for the fight that is coming. They know where the money has gone, and which of your employees and clients are most likely to side with them. They have already decided on a plan of action regarding how they will try to push you out, and they most likely already have sought legal advice on how to get away with it.
The best thing you have going for you is that they probably do not realize that you already know their intentions. By working with a lawyer who has extensive experience handling disputes between business partners, you can ensure that your best interests are being looked out for and increase the chances that you make it through this situation in good shape.
Remember this: if your business partners are planning to freeze you out of the business, they already have a plan. You need one too, and right away. At Polewski & Associates, our Dallas area business attorneys have helped many people just like you get through business partner betrayals. Let us fight for you too.
Please contact the Dallas, Texas business law attorneys at Polewski & Associates today to schedule your initial consultation.
