Business partnerships start out with the best intentions. Two or more individuals decide to go into business together with the common goal of establishing a successful business venture. Unfortunately, business partnerships do not always proceed as planned and business partners will find themselves in the difficult position of business litigation.
At DiTommaso Lubin Austermuehle, our Chicago business litigation lawyers focus on providing clients with sound business law advice and protecting our clients’ interests when they find themselves facing business litigation. If you are a partner in a business partnership who is in litigation with another partner in the business, there are a number of factors to consider as you devise your litigation strategy. Our Chicago business law attorneys will take the time to discuss the circumstances surrounding the business partnership litigation, as well as your business litigation goals.
The following lists some of the key factors to consider as you face business partnership litigation:
• Business Litigation Goals. It is important to consider what you hope to accomplish through partnership litigation. It is important to consider the ideal end result as you evaluate your options and litigation strategies. Unfortunately, the ideal end results often gets lost in the highly-charged emotions of litigation so it is important to set out your litigation goals at the outset and remind yourself of your optimal resolution through the partnership litigation process. Understanding your goals will also help you evaluate potential settlement offers.
• Litigation Strategy. It is important to know where you want to go so that you can then develop a litigation strategy, a legal map of sorts, on how you plan to reach your end goal. A business litigation strategy should be developed in close collaboration with your business litigation lawyer. At DiTommaso Lubin Austermuehle, our knowledgeable Illinois business litigation attorneys can help you analyze complex legal issues, such as potential violations of fiduciary duties, alleged breach of contracts, available accounting information, and civil procedure requirements, in order to develop the appropriate business litigation game plan.
• Expense of Litigation. There are several factors that affect the cost of business litigation, but you will want to consider the potential legal expenses associated with partnership litigation so that you can evaluate your business litigation options.