What are my options if my business partner has breached our partnership agreement in Georgia?
As a lawyer, if your business partner has breached your partnership agreement in Georgia, you have several legal options available to you.
Firstly, you may attempt to resolve the issue through mediation or negotiation. If you are unable to come to an agreement, you may need to take legal action.
If the partnership agreement contains a dispute resolution clause, you will need to follow the specified process outlined in the agreement. This may involve using a neutral third party to facilitate discussions or arbitration.
If there is no dispute resolution clause, you may file a lawsuit against your business partner for breach of contract. Georgia law allows for compensatory damages, which are intended to compensate the non-breaching party for any financial losses they have suffered as a result of the breach.
Additionally, Georgia law recognizes the concept of equitable remedies, which may be awarded by a judge. Equitable remedies are aimed at restoring the non-breaching party to the position they were in prior to the breach. These remedies may include specific performance, injunctive relief, or an order for the breaching party to take certain actions or refrain from certain conduct.
If you plan to take legal action, it is recommended that you speak with a licensed attorney in Georgia who can assist you in determining the best course of action for your specific situation.