Launching or operating a Massachusetts business with someone involves a certain level of trust, but what if your partner breaks that trust? Regrettably, business partners have disagreements and differing opinions all the time, but when your partner acts in such a manner that it breaks the terms of a legal contract, you may be able to hold him or her accountable. At Kajko, Wiseman & Colasanti, LLP, we understand that serious repercussions can result when your business partner breaks a contract, and we have helped many clients facing such circumstances pursue solutions that meet their needs.
Per Smallbusiness.Chron.com, you may have several different options at your disposal after your business partner breaches a contract. If you wish to expel your partner from the partnership, you must, in most cases, dissolve the entire partnership. However, you may be able to avoid doing so if you included language in your partnership agreement that says otherwise.
Another option you may have involves trying to hold your partner who broke a contract liable for breach of contract. For example, maybe your partner broke the terms of an employment contract or confidentiality agreement, and his or her actions are going to have a significant impact on your business and its operations moving forward. Under such circumstances, you may be able to fight for damages.
You may, too, depending on your end goal, be able to come to a settlement with your partner who broke the contract. This may prove to be your best option if you wish to hold your partner accountable for his or her actions, but you also want the partnership to continue moving forward. You may, however, have to settle on less favorable terms, should you decide to pursue a settlement with your partner. Find more about civil litigation on our web page.