Dispute Over Business Assets

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Most Common Business Law Issues:

What Are Business Assets?

Business assets are assets that are owned and controlled by a business entity rather than a private individual. A business may acquire its assets through the course of business operations. Assets may help the business to achieve its business goals, and the accumulation of assets may lead to significant growth for the business.

Some examples of business assets include:

Business assets are necessary for a business to operate successfully. However, they can often be a common source of legal disputes, and therefore are usually addressed in the business’ bylaws or in separate contracts.

What Are Common Disputes Over Business Assets?

Some common disputes over business assets may involve:

There are may be many other different types of disputes over business assets. Disputes of various kinds can also arise whenever there is a change in management or a reorganization of the business board. Thus, newer officials should be informed of the existing assets that play a role in the business’ operations. 

What If I Have a Dispute Over Business Assets?

Resolving business asset disputes involves analysis of two different aspects: first, local, state, and federal business laws can often have drastic effects on the way a business dispute is resolved. Depending on the jurisdiction, nature of the business, and types of assets involved, there may be different legal mechanisms for resolving the dispute.

Secondly, many business assets are obtained and managed according to contracts that were drafted specifically for that particular asset. If that’s the case, the contract needs to be reviewed in order to determine exactly what the business parties agreed upon regarding the business asset. 

For example, the contract may have dictated how the assets should be sold in the long run. Violation of enforceable contract terms can lead to civil lawsuits in order to recover damages for the breach of contract.

Do I Need a Lawyer for Assistance with Business Asset Disputes?

Finding a good business lawyer may be essential if you are involved with a dispute over business assets. Business assets are very important for the life of a business, and proper management of the assets will affect many different people. If have a business dispute, a qualified lawyer will be able to represent you in court, and can perform various tasks like filing claims in court, reviewing contracts, and interpreting the relevant laws for you.

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Last Modified: 03-17-2015 09:55 AM PDT

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