A strong partnership agreement is the foundation of a successful and conflict-free business relationship. Whether you are forming a new partnership or addressing a dispute between business partners, having clear, legally enforceable agreements is essential to protect your rights, minimize risk, and ensure business continuity.
At Kravets Law Group, we assist with drafting, reviewing, and enforcing partnership agreements, as well as resolving disputes efficiently and strategically to protect your business and financial interests.
We service Illinois, Pennsylvania and New Jersey. Feel free to call us, email us, or reach out using on the form on the right.
info@kravetslawgroup.com
Illinois: 312-620-1404
New Jersey & Pennsylvania: 215-595-2206
Without a well-structured partnership agreement, businesses risk internal conflicts, financial losses, and potential legal battles. A legally sound agreement should:
✔ Clearly Define Partner Roles & Responsibilities – Prevents misunderstandings by outlining each partner’s duties, decision-making authority, and financial contributions.
✔ Establish Profit & Loss Allocation – Ensures fair distribution of revenue and financial obligations.
✔ Include Exit & Dissolution Terms – Provides a structured plan for handling partner withdrawals, buyouts, or business dissolution.
✔ Settle Dispute Resolution Mechanisms – Reduces the likelihood of litigation by including mediation and arbitration clauses.
💡 A well-drafted partnership agreement helps prevent disputes and ensures all partners are aligned on key business decisions.
Even with a partnership agreement in place, conflicts can arise due to:
✔ Breach of Contract – When one partner fails to uphold their obligations as outlined in the agreement.
✔ Mismanagement or Misuse of Business Funds – Financial disagreements can lead to serious legal and operational issues.
✔ Differences in Business Vision – Conflicts over growth strategies, leadership decisions, or expansion plans.
✔ Unequal Workload & Compensation Issues – Disputes over disproportionate contributions or financial distributions.
✔ Partner Exits & Buyouts – Disagreements over valuation, transfer of ownership, or partner withdrawal.
💡 Addressing these disputes early with legal intervention can prevent business disruptions and costly litigation.
At Kravets Law Group, we provide comprehensive legal services to ensure that partnerships are structured correctly and disputes are resolved efficiently.
Our Services Include:
✔ Drafting & Negotiating Partnership Agreements – Creating customized agreements that align with your business goals and risk tolerance.
✔ Reviewing & Updating Existing Agreements – Ensuring your partnership contracts remain relevant as your business evolves.
✔ Mediation & Arbitration for Dispute Resolution – Using alternative dispute resolution methods to prevent costly litigation.
✔ Litigation Support – Providing aggressive legal representation when disputes cannot be resolved outside of court.
✔ Exit Strategies & Buyout Agreements – Structuring fair and legally sound solutions for partner departures or business dissolution.
💡 We focus on protecting your business interests while minimizing disruption and legal costs.