Disputes are a part of any relationship and are mostly unavoidable. When two or more people interact, they do so from different perspectives that may not always be acceptable to all involved. Opinions may clash and disputes may arise due to this; however, they do not have to be a bad thing. On the contrary, they present an opportunity to strengthen relationships.
If you are having partnership disputes and need to know how to manage them, this post is for you. Continue reading to find guaranteed methods of successfully navigating partnership disputes in business.
This might seem a bit on the nose, but with partnerships, it is important that you and your partner draft documents that preempt disputes or issues that may lead to disputes in the future. A partnership agreement can stipulate steps to take if disputes arise. Conversations also help in understanding differing views you may have on the partnership.
Planning ahead also involves readying yourself for the possibility of disputes, and with the added assurance of stipulated steps in the partnership agreement, you can face the situation with much less hassle.
Be Open to Resolution
When conflict arises, it is mostly easy to resort to resistance. The nature of the dispute may make it harder to want to resolve it, but all of this is ultimately counterproductive to the business. You and your partner(s) must first be open to resolution and be willing to seek a way to resolve the dispute amicably. Being open to resolution guarantees that the resolution process is fruitful.
Do Not Take The Dispute Personally
It is important to not let partnership disputes register on an emotional or personal level.
The dispute can seem personal, but the real target is the partnership — not you. If you take the conflict personally, you are more likely to approach any talks or confrontations with hostility and prejudice.
This will be counterproductive for the partnership. It is advised that you and your business partners do not let personal emotions influence how you approach professional disputes.
If the dispute between you and your partner stretches unduly or a resolution seems impossible, there is an option to consider—a mediator.
A mediator is an independent and neutral third party who can help negotiate agreements between two disputing parties. When disputes occur between business partners and they cannot find ways to resolve them, we usually advise that you seek the services of a mediator who would proffer the best solutions. Your business attorney may serve as your mediator in this case.
Partnership disputes are very likely to arise in the course of a business partnership, but it does not have to mean the end of the business relationship. Such situations may create an opportunity for growth and better business relationships. If you need to consult an attorney on partnership disputes or any other related problem, contact our experienced business attorneys.
The Law Offices of Lamb, Carroll, Papp and Cunabaugh provide a range of legal services to businesses. We can help ensure smooth business operations for you and guarantee you have solid legal representation in case of any events. Explore our services here.