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Has a once strong partnership gone downhill?

Starting a business may have always been a dream of yours. Acting as your own boss, having the ability to delegate tasks to others and generally being in charge may have been very appealing to you. Of course, you may have understood that you could not do everything on your own, and as a result, you created a partnership in order to have the input of another person in the running of the company.

Unfortunately, what may have started out as a beneficial arrangement may have turned sour after time. Many issues between partners can cause disputes that seem insurmountable, and as a result, legal action may prove necessary in order to address the conflict or to dissolve the partnership entirely.

Risky partner choices

When you had your idea for your company and knew that you would need someone to come along for the ride, you may have decided on a friend or even your spouse. While this idea may have come because you trusted the individual and felt that you could get along well, you may have come to realize that mixing business with personal relationships has its negative aspects. If you cannot keep a clear boundary between business and personal affairs, your partnership may suffer.

Additionally, even though you may get along well with your friend or spouse, he or she may not have the same business goals or values that you hold. As a result, when a major financial investment needs making, your partner may not feel as willing to make that investment. For another example, if the business remains a main focus for you but your partner has other distractions, he or she may not feel as invested in making important decisions or giving the company the time you believe it needs.

Unsuccessful ventures

Another reason a once strong business relationship could take a turn relates to the company not obtaining as many successes as hoped. One partner may begin to feel that the other has not made enough effort to reach goals, or one partner may start to believe that the financial toll that the lack of success is taking no longer seems worth it. Another scenario may involve one partner's unwillingness to let go of an idea that does not prove fruitful, which leads to conflict with those willing to move on.

No matter the reason, a partnership dispute can prove difficult to resolve. If you believe that you need to take legal action in order to ensure that your company remains protected, you may wish to review your options.

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Chodos & Associates
1880 Century Park East
Suite 615
Los Angeles, CA 90067

Toll Free: 866-986-7255
Phone: 310-598-3405
Fax: 310-203-3866
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