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Don’t let your company suffer due to a partnership dispute

| Aug 26, 2020 | Corporate Contract Law |

Partnership disputes can change the direction of a business — and not usually in a good way. There are several things that you can do to reduce the chance that the dispute with the person you went into business with will lead to the dissolution of the company or your relationship.

It might help to remember why you went into business together. You and your partner each have strengths that combine with the other person’s to create the strong business acumen. Thinking about these might put the disagreement in perspective and help you to come to a resolution.

When there is a dispute, you should discuss it away from the business. There might be some employees who need to know what’s going on; however, it’s a good idea to never let the discord infect the employees. Discussing the matter away from the company might be a good idea. If you do have to talk about it in the business, make sure it’s behind closed doors.

As you try to work things out with your partner, remember that compromise is the key to the situation. You and your partner need to try to come up with a solution that’s the best option for the business. If you’re unable to work out a deal on your own with your partner, it might be time to seek outside assistance.

Using a collaborative method, such as mediation, might help with the dispute. If that doesn’t work, it might be time to turn to the legal system for assistance. Your attorney can provide you with information about your options for dealing with this situation.

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