If a business partnership conflict is persistent or serious, it is best to hire a business attorney with expertise in handling partnership disputes. Here are a few proven ways that can help you handle partnership disagreements and disputes.
Never Rush to Judgments
Every decision may seem large to owners and operators of a small business. They may seem deeply personal as well. In relation to this, when a partner disagrees with you, it can be easy to shift into battle mode. You should find the patience to take a deep breath and consider what your partner is saying. This will play a major role in whether you will resolve the argument quickly and painlessly or not.
You should remember the larger picture. You entered into a partnership because you both had the same vision for your business. You each brought your individual strengths to the table. You should try and value your business partner as a whole and take a fresh look at their viewpoint. This may help you agree with them or at least come to a compromise.
Consider an Active Listening Session
This dispute resolution tactic has shown successful results in business disputes. Both parties are supposed to sit and listen to the other’s opinion and position without reacting or speaking. There is usually a set period of time, such as 3 – 5 minutes. Active listening sessions offer remarkable results for cooling tempers and allowing each side to develop fresh insight into the other’s position.
Winning matters less in business conflicts as compared to how both partners feel once the conflict is resolved. The partnership can be poisoned if either side feels resentful or marginalized. You can ease ongoing tensions and ensure that each side feels heard by practicing active listening.
Seek Professional Advice from a Partnership Disputes Lawyer
If you are unable to resolve the business partnership dispute on your own, it is time to get help from a knowledgeable and experienced partnership dispute attorney or mediation expert. The legal professional you choose will help you focus on the facts and keep the emotions out of the equation.
The attorney will try to negotiate a compromise between you and the other parties. Negotiation is about finding a solution that both business partners can live with. It is not about winning any arguments since the disagreement is probably too deep for that. A skilled mediator or attorney will help you see what is in the best interests of your business rather than make the dispute a matter of ego and one-upmanship.
Consult an Attorney If You Are Considering Partnership Dissolution
If you think the dispute is nearing an ugly outcome and you cannot resolve your differences, you would definitely need an attorney with experience in handling partnership dissolutions. It is vital that you get legal help sooner than later. A good business attorney will be able to help you understand your obligations and rights. They will also help you get a fairer picture of the rights and obligations of your partner.
For instance, it may be imprudent to terminate the partnership or oust your partner from the business. You may want to consider following a protocol listed in the agreement to go into mediation or other things. When things are not smoothing over after all efforts, the partners can consider selling their share in the business. You may end up with significant litigation and liability costs if you terminate a partnership when the agreement forbids it.
You should find an alternative solution to stopping your partner if they are poaching customers, stealing assets, or damaging the goodwill of the business among other things. You may want to get a court action, injunction, or a temporary restraining order in these cases. A proven attorney will be able to guide you through the process. An injunction may prove to be a worthwhile investment for stopping your partner in their tracks and protecting your business interests.
You shouldn’t take matters into your own hands. This may create additional difficulties and problems for you. The right way to go about a dispute is to take the necessary steps for preventing the business from getting destroyed. An attorney can help you understand the pros and cons of all available legal options. Having an accomplished attorney on your side will make it less likely for you to have a successful dispute resolution.
Speak With a Seasoned Business Disputes Attorney Today
Experienced business attorneys can help with partnership disputes in a wide array of ways. The team at BHM Law Group can advise you on your legal standing and suggest the most effective strategies for dispute resolution. We can represent you in negotiations with the other party. Schedule a free consultation with our lawyers today. Call us at (205) 994-0902 or contact us online.