In a post here on our blog last year, we referenced the many different corners from which a business can face litigation. Those sources included the Internal Revenue Service (IRS), competition, employees, clients, the authorities and workplace safety officials.
The above-referenced sources weren’t an exhaustive list of the sources of litigation threats that Florida companies face. There are a few more sources of business legal disputes that you’ll want to prepare for in case they arise.
Board officer or executive liability
Both company executives and board members have one sole responsibility: to act in the best interest of the company they represent. You, as a company owner, may find that you need to take legal action to protect your company’s reputation and financial future if your executive or board members fail to put your operation’s best interests at the forefront.
Shareholder or partnership disputes
Partner and shareholder disputes perhaps go hand-in-hand with board or executive liability ones as described above. Some examples of litigious claims may include:
- Breach of fiduciary duty allegations between business partners
- Oppression of minority shareholders
- Dissolution of business relationship concerns
As a Florida owner, it’s unlikely that you need reminding of how disputes can quickly spiral out of control unless confronted head-on from the start. Alternative dispute resolution options such as arbitration or mediation may help resolve your differences.
You may find it helpful to review some of our website’s many other business-oriented blog posts. It’s here that you’ll find more information about other common issues Florida companies must deal with and how to best overcome them without exhausting significant time, money or other resources.