There is no denying the fact that conflicts between partners will happen, but what matters is how the issues are resolved. A commercial litigation lawyer is highly skilled and experienced when it comes to handling disputes that threaten the viability of the partnership. Here are sure-fire ways to resolve a partnership dispute.
1. Get Your Emotions Out of the Way
Perhaps the cause of the dispute is a difference of opinion. It’s normal to react emotionally to business dealings, but it’s best to keep your emotions in check. Regardless of the relationship you have with your partner, you both want your business to grow into an empire, so disputes revolving around a difference of opinion do not mean that the partners’ contributions no longer count. Stay calm and focus on the facts. This way, you can resolve the dispute without involving any third party.
2. Talk It Out
If you are both busy, the odds are good that scheduling time to sit down and have a proper discussion without any distractions can be a daunting task. Trying to talk things through when you are both distracted by other tasks and responsibilities may be difficult. You may not find a solution to the problem this way.
The best thing to do is to create time for negotiation. Listen to each other and stay resolved that the meeting will not come to an end until you have both agreed on a resolution.
3. Have a Written Agreement
If you both reach an agreement to a dispute, it’s easy to get things back on track. However, it is important to put down agreements in writing. Though verbal agreement may work perfectly, it may cause more issues down the line. By getting an agreement documented and signed, it serves as a reference point for any dispute that may likely arise in the future.
4. Find the Root Cause of the Problem
Some issues can get you frustrated, and it is understandable that you might put blame on your partner and other people involved. However, placing blame will worsen the issue. At this stage, the best course of action is to find the root cause of the problem and fix it.
Before you discuss the issue with your partner, think about a solution and consider the best way to present the matter.
5. If the End Is Near, Consult a Commercial Litigation Lawyer
A commercial litigation lawyer is a specialist when it comes to handling disputes between partners. If the issue still lingers and it appears to be heading towards an ugly outcome, do not hesitate to contact a commercial litigation lawyer. By hiring a lawyer, you’re one step closer to finding a solution. Also, a professional lawyer can help you understand your rights and obligations while also spelling out in clear terms the rights and obligations of your partner. Don’t take any drastic action without consulting a commercial litigation lawyer. This may worsen the case and create additional problems that would have otherwise been avoided.
Conflicts between partners can have a significant impact on your business. Consult a professional commercial litigation lawyer to help address and resolve the issues before they get any worse.