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Tampa Bay Business Disputes: Misappropriation of Assets
April 08, 2023
In Tampa Bay, businesses are not immune to conflicts and disputes. These disagreements can often arise in the form of contract disputes, employment issues, or intellectual property disputes, among others.
However, one type of dispute that can have far-reaching consequences is the misappropriation of assets. Engaging the services of experienced business litigation attorneys in Tampa, FL, such as Robert Eckard & Associates, P.A., can be vital to protecting your business interests.
Misappropriation of Assets
Misappropriation of assets is the unauthorized use or theft of a company’s assets, including funds, property, and other resources. This type of dispute is not only financially damaging to the business but can also harm its reputation and stakeholder relationships. Misappropriation of assets can occur in various forms, such as:
- Skimming – Diverting funds before they are recorded in the company’s financial records.
- Larceny – Stealing cash or other assets after they have been recorded in the company’s financial records.
- Fraudulent disbursements – Issuing unauthorized payments to oneself or to third parties through schemes such as false invoicing or payroll manipulation.
Detecting asset misappropriation requires vigilance and thorough internal controls. Business owners and management should implement measures such as segregation of duties, regular internal audits, and external reviews to minimize the risk of such occurrences.
A Tampa Business Attorney Can Help
In the unfortunate event that your business encounters a misappropriation of assets dispute, enlisting the expertise of a Tampa business attorney is crucial. A skilled Tampa business lawyer, like those at Robert Eckard & Associates, P.A., can provide legal guidance in investigating the matter, preserving evidence, and pursuing appropriate remedies.
These remedies may include civil litigation to recover the misappropriated funds or property, obtaining injunctions to prevent further misappropriation, and working with law enforcement to pursue criminal charges against the wrongdoer. By engaging the services of a knowledgeable Tampa business attorney, you can protect your business interests and help ensure a favorable resolution to your dispute.