How to Deal With A Partnership Dispute
Having a partnership disputes is not a good experience for any partner to have. And not all partner disputes are the same. Irrespective of the cause, when a dispute happens, partners need to try and manage the dispute in the least destructive manner possible. The decision to continue the partnership or going their separate ways is best left to the partners in the dispute
Get professional help
Get in touch with legal advisors who would be able to guide you through the process. Also, manage your emotions as best you can. Try not making any impulsive decisions guided by emotion.
Revisit your initial vision
Going through your core business vision and understanding the reasons for being partners in the first place can help the partners reconcile and take a reasonable decision. Perhaps your initial goals and expectations have been realized, and new ones need to be set. Perhaps things have changed, or your expectations turned out to be wrong.
Define immediate resolutions
In a partnership dispute, it should be decided early on if you want to fix the relationship, or if you want to unwind. Understand the different rights and obligations that both your partners have and understand the partnership agreement really well along with the relevant law. Also, try getting a good idea if those rights are applied in practice.
Have the moral high ground
It is important that you always do the right thing when in a partnership dispute. This will be particularly helpful if you ever end up in court. Focus only on business issues and deal with them in a professional manner. Don’t make personal attacks on your partners’ integrity or motives unless you have a very valid reason to do so. Also, do not overreact to attacks made upon you. Try not to control any kind of information as this will make it seem like you have something to hide. This is can be counterproductive in the long run. Be as forthcoming as you can be as this will help build trust. This will also help you look better if you ever end up in court.
Communication is the key
It might seem hopeless at times but if both sides keep communicating, progress will be made eventually. When dealing with a partner dispute case, the most obvious solutions might not be the best solutions. Try mutually settling on a solution that caters to the needs and fears of all the partners involved. If it becomes impossible to come up with a win-win solution, then know what you need and communicate it to your partner after discussing it with your legal counsel. Under no circumstances should you propose a solution you cannot accept if it is reversed upon you. This is very critical as good lawyers set up a scenario where the proposal is reversed on you. A good settlement proposal is the one that you would be wiling to accept with out any changes if it was reversed on you.
Negotiating a partnership dispute is all about making a business decision. Mutual fairness towards the parties involved should be the admirable goal when resolving such disputes. If you are looking for lawyers who are apt and can guide you through such disputes and give you good counsel to deal with a partnership dispute, then get in touch with Prowse Chowne.