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Use these tips to work through a partnership dispute

On Behalf of | Jul 9, 2020 | Business Litigation

Going into business with another person enables you to pull from your experience and theirs to get the company up and running. At that start of the arrangement, you know that you and your partners share the same goal – to grow the company into a profitable one. You may find that as time progresses, a few disagreements come up. This isn’t necessarily the end of the company but you and your partners need to have a clear plan for handling these disagreements.

When there is a partnership dispute, the primary goal must be resolving the issue with minimal disruption to the company. There are several methods that you might use to accomplish this. Remembering these points may help you as you deal with the situation.

Find out what’s going on

It’s easy to jump to conclusions when there is a difference of opinion. Instead of rushing your judgement about what’s going on, take the time to discuss the matter with your partners. This should happen behind closed doors so that there is still some stability in the company. In most cases, it’s best if the employees don’t know that a partnership dispute is occurring.

During the discussions between partners, remember that active listening is a must. You may find that utilizing a timed system so everyone has the same amount of time to share their thoughts is beneficial. A key point during these sessions is that everyone must remain calm.

Explore the solutions

There’s often more than one solution to a partnership dispute. Instead of trying to rush to come up with a solution immediately, take your time to explore the various options and how each will impact the company. Of course, there are some instances in which you won’t have the time to do this. In that case, a quick review of the options might be beneficial.

Seek help if there’s an impasse

When you and your partner can’t come up with a solution, take the time to find someone you can call in to help. This might mean going through mediation so that you have someone to guide you through finding a resolution. If that doesn’t work, you may have to consider taking legal action so that the court can determine what needs to happen. Think carefully about these options so that you don’t inadvertently harm the company that you’re trying to grow.