Business partners don’t always see eye to eye. Sometimes, a partnership dispute may lead to full-blown litigation. However, things don’t always have to progress to that point. It may be possible to resolve your differences while preserving the business you’ve worked so hard to build up. Here are some steps you can take to help reach an amicable resolution if you’re caught in a partnership dispute.
Look to your partnership agreement for guidance
If you have a written partnership agreement, it may provide you with the guidance you need to resolve your business dispute. You can point to any language that outlines both you and your business partners’ rights and responsibilities. Oftentimes, this approach sheds enough light on the situation to help you and your partners move forward.
Keep your emotions in check
Arguments are emotional. However, no argument has ever been resolved due to someone losing their cool. Of course, this is easier said than done, especially when your business is at stake. However, take the time to pause. Try to see things from your partner’s perspective. Remember, even if you’re ultimately able to move past your dispute, things said in the heat of the moment can still have a long-lasting impact on your business relationship.
No one can get their point across when everyone is talking over one another. Agree to allow each other to speak without interruption. If you take the time to consider what each person is saying, you have a better chance of understanding the underlying issues surrounding the disagreement, and you may be able to visualize a way forward.
People are going to disagree
Everyone disagrees with someone else at least some of the time. A partnership dispute does not have to mean the end of the world as you know it. A key piece of any successful business partnership is the willingness to negotiate. However, sometimes things may seem intractable. If you find yourself stuck, you should discuss your options with a skilled legal professional.