Northern Illinois Business Dispute Lawyers
Skilled Guidance with Business Disputes and Dissolutions in DuPage County, Oak Brook, and Across Illinois
During the life cycle of any business, internal disputes may arise between partners, shareholders, members, or managers. These disputes may involve allocating the ownership of the company, business operations, profits, and similar issues. Whether such disputes can be resolved amicably, or cannot be reconciled and necessitate the dissolution of the business, having representation from an experienced commercial litigation attorney can be invaluable to protecting your rights and the value of your business.
At Tiesenga & DeBoer LLP, we have over a century of combined experience in corporate and small business law. Our attorneys have in-depth knowledge of all legal matters related to this area of the law; including business formation, sale and dissolution, contract drafting and review, business reorganizations and recapitalizations, commercial litigation, contract disputes, and business disputes and dissolutions. We understand that each circumstance is unique, and each organization has its own set of issues. We take the time to assess your circumstances and recommend the most practical resolution. We emphasize responsiveness and accountability, and we work hard to handle your legal needs as they arise.
Common Business Owner Disputes
Business disputes can take many forms and involve a number of complex issues. Some of the most common include:
- Management Deadlock: When owners and managers are at an impasse regarding key decisions about the company operation, it can put the future of the organization in jeopardy.
- Breach of Contract: If one (or more) of the owners or managers is in violation of the terms and conditions of a written agreement such as a Shareholder Agreement, Operating Agreement, or employment covenant, the contract dispute must be resolved for the company to continue operating smoothly.
- Business Succession Planning: A common source of tension, particularly in non-liquid closely held companies, is the issue of sale or encumbrance of ownership interest, where one or more owners wants to liquidate or borrow against his or her share of the company. Another common issue is questions regarding ownership transfer to a new owner in the case of retirement or disability. Disagreements over who will own and operate the business and how to control the entry of new owners can turn into contentious disputes.
Smooth and Efficient Business Dissolutions
Sometimes the most efficient resolution to a business dispute is for the parties to dissolve the company and go their separate ways. In some cases, it may make sense for one owner to buy out the other(s). In others, it may be possible to find an outside buyer rather than liquidate the company assets. Our guiding principle is always to advise our clients to choose the strategy best suited to their needs
If you need experienced guidance with business disputes and dissolutions in Illinois, contact our office today at 630-645-1403 for a consultation. Tiesenga & DeBoer LLP provides skilled legal representation for clients from our main office in Oak Brook, Illinois.