You are having a dispute with a business partner regarding management of the business and payment of distributions. You have reached a stalemate in resolving these critical matters. Where do you go from here? If you are not able to settle the matter amicably, you may find yourself on the road to business court.
In 2012, the State Legislature passed legislation that created “business court”, in an effort to resolve commercial disputes more efficiently. In 2013, courts began implementation. If a circuit court has 3 or more judges, it must create a specialized business docket- the “business court”. If there are less than 3 judges, the court may opt to create the docket. All business or commercial disputes go to this special docket. Some examples of business or commercial disputes under the state law include:
Disputes involving the internal organization of business entities and the rights or obligations of shareholders, partners, members, owners, officers, directors, or managers.
Disputes involving the sale, merger, purchase, combination, dissolution, liquidation, organizational structure, governance, or finances of a business enterprise.
Disputes involving information technology, software, or website development, maintenance, or hosting.
Disputes arising out of contractual agreements or other business dealings, including licensing, trade secret, intellectual property, antitrust, securities, noncompete, nonsolicitation, and confidentiality agreements if all available administrative remedies are completely exhausted, including, but not limited to, alternative dispute resolution processes prescribed in the agreements.
Disputes involving commercial real property.
There are many types of disputes that will land you in business court. There are special steps that must be taken when you draft the documents that initiate your lawsuit. If you fail to take these steps, you will experience a setback.
Contact our team to assist you in resolving your business or commercial dispute today!!