Unsure about your Rights in a Business Dispute? Seasoned Australian Lawyers can help you understand and Assert your Legal Rights
Staring and operating a joint business venture is often a cumbersome and complex process. Normal folks may find it challenging to navigate legal jargon and understand their position as shareholders or business partners. Experienced commercial lawyers can help you obtain clarity regarding rights and duties, set up partnership agreements that are aligned with Australian law as well as help you resolve any business disputes that may arise.
Business or shareholder disputes can be stressful and can result in delays, losses and production downtime. Having a legal contract in place can help in implementing amicable and speedy problem resolution as it provides a reliable reference point for discussions. As a business partner, you need to confirm that the business is valid and legitimate under Australian law and a reliable lawyer can help interpret the terms and conditions. Technical verbiage and legalese can often prove confusing to understand and interpret for the layman.
For any commercial contract to be legally binding, it must typically satisfy the following four criteria:
- A written offer to the individual(s)
- An intention to create a legally binding commercial relationship
- A letter of acceptance
- Monetary considerations and terms
For example, you may wish to start a business venture with your family members or friends. While all parties may express excitement and interest in the initial stages, the business could run into trouble in the future. At such times, the guidance of a seasoned legal expert is invaluable as you are then able to pursue solutions that lie within the framework of Australian law. Lack of knowledge about stipulations in the business agreement can put you at a disadvantage in the event of doubts or differences in opinion. Preparing a comprehensive business agreement can help you in a number of crucial situations including insolvency, shareholder disputes and breach of fiduciary duty and so on. Such problems can be worrisome and reliable guidance regarding your rights and responsibilities goes a long way in according peace of mind; extended court battles often strap a business of its valuable assets and drain away its monetary resources.
Many times, a simple problem or challenge can transform into a legal situation where it becomes necessary to refer to the terms of the business contract. Shareholder disputes, bickering and differences of opinion between partners etc can interfere with the day-to-day running of the business and stunt its potential. If taken to court, business disputes often prove expensive and stressful and resolution may happen over months or years. Hiring timely expert legal assistance can help resolve disputes in a cordial and civil manner while adhering to Australian commercial law provisions at the same time.