When a business partnership is formed, the last thing on partners' minds is the possibility that one day that partnership will end. But life happens, plans changes, and not all partnerships survive the test of time.
Within a limited liability company, it is not uncommon for disputes to arise among LLC members. Many of these disputes are the result of an LLC member breaching his or her fiduciary duty. When a member does not act in the best interests of the LLC, the effects can be damaging to the company.