A closely held business is a company being controlled by a small number of shareholders, usually the case with family owned businesses. Closely held businesses are often private, and shareholders of these companies choose to offer or trade their stocks privately rather than publicly. If you are a stockholder in a closely held corporation, you have to educate yourself on the business laws that could affect business transactions. Failure to do so could result in unwanted consequences.
Our attorneys take pride in handling business and commercial legality issues. Throughout the years, we have been handling business litigation cases, often involving closely held businesses. If you are a stockholder in closely held business, you need to understand that there are a number of legal issues that may arise. A contract dispute with a certain supplier can result in business litigation if both parties are not willing to cooperate and settle the case through mediation. Other issues may arise, including employment disputes, which is why we strongly advise you to review the employment manuals and other company policies that could cause employment disputes.
Another common cause of business litigation are insurance policies. As a co-owner of a closely held business, you need to pay attention to the smallest of details to protect the best interests of the business. Making sound decisions for the benefit of the business is the goal of any business owner or stockholder. Though this can be challenging, you may find it rewarding once you can see that the business is doing well.
In the event of a business or commercial litigation, you have to protect the best interests of the company through an aggressive legal representation. Our website contains tips and strategies that can help you with business litigation issues.