Orlando LLC Disputes Mediator Providing Professional Yet Cost-Effective Solutions
A limited liability company (LLC) is one of the more popular business entities in Florida thanks to the easy start-up process, flexibility of operations, and avoidance of the dreaded “double taxation” problem of corporate profits while still retaining the limited personal liability feature of corporations. Do not let these positive attributes deceive you, however: members of an LLC can get themselves into disputes and disagreements that can tear the LLC asunder if not resolved in a timely manner.
Some LLCs may not have a significant amount of capital or resources to engage in prolonged litigation of a dispute in court. In those cases, a lawsuit that is not settled in a timely manner may drain the LLC and do more damage than the original dispute could have ever done. Rather than let an Orlando LLC dispute languish in the courts or hope the matter simply resolves itself, contact Feldman Mediation & Arbitration Services.
Subjects that Lead to LLC Disputes in Orlando
Some individuals who together form a Florida LLC make the mistake of failing to create operating agreements or other governing document that sets forth how the business is to be run. This important step to setting up an LLC is neglected because either the founding members of the LLC have had no prior business experience and do not consult with an attorney, or they believe that their friendship and commitment to making the business work does away with any need for an operating agreement.
Unfortunately, a lack of a detailed operating agreement lies at the heart of many disputes that arise between members of the LLC, including:
- Entering into new lines of business or industries;
- Determining whether to acquire new assets or property;
- Deciding if it is best to sell assets or to find other ways to raise capital;
- Concluding whether the LLC should continue to exist or whether it ought to be dissolved;
- Deciding that a member of the LLC needs to be removed; and/or
- Assigning profits and losses of the LLC (that is, who receives what share of the LLC’s profits and/or losses)?
Mediation and arbitration services provide a sensible solution to resolving these types of disputes. In arbitration, the parties in the dispute submit evidence and witness testimony to an arbitrator who receives the evidence and testimony and then renders a decision in an expedited and simplified “mini trial.” In mediation, the parties work with a third-party mediator who attempts to help the parties think of ways to resolve their disagreement short of going to court. Either alternative can be much simpler and less expensive (and the results can be even more satisfying) than going to court.
When to Find an Orlando ADR Firm for Your LLC Dispute
The Orlando alternative dispute resolution team at Feldman Mediation & Arbitration Services is here to assist you in settling your dispute through processes that do not have the expenses and hurdles of litigation associated with them. Contact us right away and learn how mediation or arbitration may be the right method through which to work out your LLC dispute.