Addressing Partnership Disputes
Starting a business with one or more other people can be beneficial in many ways. You can divide the leadership roles, allocate management duties, and have different perspectives for growth and problem-solving. However, having more than one owner also presents the opportunity for partners to disagree on certain issues, and a dispute can arise. You do not want a conflict between partners to threaten the success of your business, so you should discuss how to address the issue with a Boca Raton contract dispute business lawyer as soon as possible.
Common Partnership Disputes
Disputes can arise regarding many issues and aspects of the company, including:
- Financial rights and obligations
- Authority issues
- Workload distribution
- Company objectives
Whether the dispute is about the direction of the business or financial issues, allowing the dispute to escalate can cause serious problems.
Instead of allowing a dispute between partners to fester, you should address it head-on for the good of the company. If you have a partnership agreement in place, which every partnership should have, the contract should address how you resolve conflicts. This can include any of the following:
- Informal negotiation between partners
- Alternative dispute resolution (ADR), such as mediation or arbitration
You should have a skilled business attorney on your side, even to engage in negotiation or ADR. Often, the perspective of the right lawyer can help partners cooperate and resolve the matter without any need for litigation.
Learn How Our Business Lawyers in Boca Raton Can Help You
Having a well-negotiated and drafted partnership agreement is often the best way to prevent disputes or to ensure swift resolution. Whether you want to discuss drafting an agreement or you need to address an arising dispute, our Boca Raton business attorneys at Rubino Findley can help. Please call 561.781.8250 or contact us online for more information.