Going into business with a partner is commonly a beneficial way to go about starting a company. Often, more than one person can bring important skills to the table and help the business thrive. In the beginning, you and your partner may have agreed on most matters and saw eye to eye on how to handle growth and operational procedures. Lately, however, you may feel more as if you are at odds rather than on the same side.
You may not fully understand where matters started to go wrong, but nonetheless, you know that something has to change before the business suffers. As a result, you may be considering your options for handling a partnership dispute.
What can you do?
Fortunately, you likely have multiple options for handling conflict between yourself and your business partner. Some options to take into consideration include the following:
- Management agreements: You may have come up with a partnership or management agreement when you first started the venture that could help you determine how to handle the current disputes. If you did not do so in the beginning, you could discuss creating such an agreement now in order to handle current and future disputes.
- Negotiate: If you do want to create a new management agreement, negotiations will likely prove necessary to reach agreeable terms. Even if you do not want a new contractual agreement, you and your partner may be able to negotiate and compromise to reach a point at which you feel you can resolve the issue.
- Litigation: Unfortunately, one cannot easily resolve some conflicts, and any attempts at negotiation could come to a standstill. If this happens, you may need to consider your legal options for litigating the matter in court, in hopes of reaching a final conclusion.
For you, litigation may seem like a last resort, and that is not necessarily a bad mindset to have. However, it is important to remember that it may be a vital option in the event that your efforts to address the matter in other ways do not lead to desirable outcomes.
Finding the right solution
The well-being of your business is undoubtedly a top priority for you, and you do not want a partnership dispute to put your enterprise in jeopardy. As a result, you may want to discuss your concerns with a knowledgeable business law attorney in California who could explain your options for protecting your company during such an ordeal.