Having business partners can be highly beneficial for many reasons, though there will likely come a time when two or more partners disagree on a matter. Some partnership disputes are short-lived and simple to resolve. On the other hand, some partners might refuse to come to an agreement about how to move forward, and it might put the entire business in jeopardy. You should always contact a business lawyer in Calabasas for assistance resolving a serious partnership dispute.
Look to Your Agreement
It is wise for every partnership to have a carefully drafted partnership agreement in place. This agreement can provide guidance regarding how to resolve conflicts that arise in two ways:
- The terms of the agreement might indicate how the disagreement should be resolved. For example, if a dispute arises about profit-sharing, the agreement might have clear direction on how profit-sharing should be handled.
- The terms of the agreement should set out how partners must go about resolving an issue, such as by using alternative dispute resolution instead of filing a lawsuit.
Negotiation and Mediation
A business lawyer can help partners with informal negotiation to try to get them to find middle ground. A lawyer might also represent a partner while they engage in mediation, which seeks to facilitate compromise and agreement without having to go to court.
If other forms of dispute resolution do not work, you might need to file or defend against a lawsuit in civil court. It is imperative to have the right Calabasas business attorney handling your case to ensure you receive the most positive outcome of the dispute for you and your company.