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Consider these points when dealing with a partnership dispute

On Behalf of | Jan 28, 2021 | Business Law

Having a dispute with a business partner can have a massive negative impact on the company. It can bring down morale and make things more difficult for the employees of the business.

If you and your business partner don’t see eye-to-eye on something, it’s imperative that you work out a way to come to an agreement so the company can continue to move forward. 

Keep the dispute quiet

There isn’t any need for everyone to know about the dispute. There might be some employees who do need to know because of the subject matter or because you need their input into the solution. Be sure that you do remind any employees that you speak with, however, that this is a confidential matter. When you’re discussing the dispute, it’s best to do it behind closed doors or even somewhere other than the business. 

Think about both sides

It might be helpful to remember why you went into business with that individual. Each of you probably has your own strengths. Does the issue at hand fall into your area or your partner’s? That can help you look at different perspectives and frame your arguments more carefully. 

When you and your partner can’t come to an agreement about the dispute, it might be time to turn to someone outside of the company. This can involve mediation, but there are times when legal action might be necessary. Discussing the situation with your attorney may help you to learn the options that you have for the matter. Just remember that you need to do what’s best for your company.