New businesses frequently begin on a wave of exuberance and optimism. Riding this wave, entrepreneurs often have difficulty accepting the fact that the trust and goodwill they currently have with their business partners may not be permanent. As the business develops, interests may change and new stakeholders may alter the dynamics. Even if the composition of the business remains the same, people change and relationships may sour. This can create serious problems for minority shareholders in closely held corporations when other stakeholders join forces to exclude them from the operation of the business.
Contracts are written to protect parties to an agreement. What happens when one party does not perform their side of the agreement? Imagine that you or your business ordered 1,000 widgets and received 1,000 gumballs. What then? Unless the widget supplier has a legitimate reason for not performing any of the contract's terms, they have breached the contract. An Elk River business litigation attorney at the Hess & Jendro Law Office, P.A. can assist you in pursuing the damages you are entitled to in a breach of contract situation.