Small businesses are owned and operated privately. This does not mean that they do not have their share of conflicts like larger public corporations. While they tend to maintain a smaller volume of sales and employees, problems can arise.
Small businesses have less than 500 employees or less than $7 million in annual income. They can be corporations, partnerships, or run and operated by one person.
Some of the more common small business issues that arise are:
Small businesses also experience disputes between employees or owners. They are also more prone to involve personal matters in business than larger corporations, especially businesses that are run within the family.
Smaller organizations can resolve issues in a number of ways, it is best to have the experience of an M&A attorney on your side. Typically, they try to work out conflicts by mediation and alternative dispute resolutions but will resort to lawsuits in more extreme cases.
If your small business is experiencing a lawsuit, call a corporate law firm in Miami to help.
If a lawsuit persists and it is taken to court, the likely outcome is that damages will be awarded intended to reimburse the plaintiff. However, the outcome will depend on the state and local law, as well as the judge’s ruling.