Skilled and experienced resolution of legal disputes.

3 questions to ask during a business partnership dispute

Before entering into your business partnership, you likely asked yourself and your potential partner numerous questions. These questions undoubtedly allowed you to gain a better idea of whether the partnership would feasibly work and whether your business ideals aligned. Once you covered all the areas you felt pertained to the situation, you likely moved forward with your business partnership in a confident manner.

Of course, even strong beginnings can turn into unfortunate endings. As a result, you may have recently found yourself at odds with your business partner. Partnership disputes occur relatively often in the business world, and you may wonder the best way to handle your particular predicament. When assessing the problem, you may want to ask yourself and your partner these questions:

Can you pinpoint the issue?

Determining the exact problem or problems that have resulted in you no longer seeing eye-to-eye with your partner could help decide your course of action. Therefore, you may wish to take the necessary measures to understand the issues causing friction with the partnership. A variety of factors from personal to business-related issues could act as the root of the problem.

Can you mend fences?

In some cases, after pinpointing the issues, you and your partner could potentially work through the problems and come out on the other side with the partnership still intact. In order to do so, however, you both will undoubtedly have to compromise on certain areas. You may have the ability to go through negotiations smoothly and create a new partnership agreement.

Of course, some issues could prove insurmountable, and you might choose to dissolve the partnership. If you found that your partner participated in activities that harmed you or the company in some way, such as lying or stealing, you might feel that moving forward with the partnership goes against your best interests as well as the best interests of the company.

What should you do next?

If you believe that you cannot salvage the partnership, your main concern will likely revolve around what happens to the business. You and your partner could choose to allow one of you to maintain ownership and operation of the business or sell the business completely to an outside party. No matter which course of action you choose, you and your partner will need to come to specific terms.

Because working through partnership disputes or dissolving a business partnership altogether comes with many complications, you might wish to consult with an experienced California attorney. Having a professional on your side could help you determine which strategies could work in your favor when it comes to reaching your desired goals.

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