Trust and common goals are the foundation of any successful partnership, and business partnerships are no exception. But when partnership theft occurs, it can rock that foundation to the core and cause irreparable damage to the business.
If you suspect one of your partners of theft, you must contact a partnership theft attorney as quickly as possible. A competent attorney can safeguard your rights and mitigate the harmful consequences of what may have occurred.
What is Partnership Theft?
Partnership theft is when one partner takes advantage of the other by stealing the partnership’s money, property, or assets. Among other things, it can include:
- Using business funds for personal use, such as paying for a vacation or buying luxury items
- Taking more than their share of profits
- Stealing intellectual property, such as a client list or software code
Legally, all participants in a partnership agreement have a fiduciary duty to the organization, and partnership theft is a severe breach of this duty.
What Should You Do if You Suspect Partnership Theft in Your Company?
If you suspect a partner is stealing from your shared business, you need to take action. The longer the situation goes on, the worse it can get.
Speak with your partner and ask them to explain what has occurred. They may have a reasonable explanation, or they may not. If they do not have an answer, you should look at your records and see if there have been any unusual, unauthorized expenses.
If they have an explanation that seems unreasonable, this is where a partnership theft attorney can help you. A skilled attorney will know how to gather evidence to uncover any partnership fraud or theft that may have occurred.
Partnership Theft: Next Steps
Once you know the extent of the crime, there are several actions you can take:
- Make sure all documents related to the theft are preserved as evidence in case they need to be used later in court proceedings.
- Report the incident so other possible victims can be notified quickly before further losses occur.
- Your partnership theft attorney can help determine what legal action should be taken against the thief.
Contact an Atlanta, GA Partnership Theft Attorney Today
If you think your business partner is stealing from you, you may be at a loss for how to proceed. You might even feel blindsided by the betrayal. But you can take steps to protect yourself and your business. These steps can be implemented most effectively with the professional legal assistance of a partnership theft attorney.
If you are or may be a victim of partnership theft, contact the Atlanta, GA, business law professionals at Hasson Legal Group, LLP. We have extensive experience in partnership fraud, theft, and other disputes and can advise you if you have been affected by partnership theft.
Call us at (678) 701-2869 to find out how we can help with this challenging situation.
We serve the Atlanta, GA, area.
