Four Things To Do When You Are In A Partnership Dispute
Business partners have a unique relationship different from those of friends, family members, or spouses. While friends or family members may be business partners, recognizing the challenges business partners face in their relationship can be crucial to the company’s success. At the heart of the relationship is business itself, and if partners aren’t careful, their disputes can destroy the company. If you are facing a partnership dispute, here are four things you must do:
- Stay calm. Partnership disputes can quickly become emotionally charged, but this will only complicate the issue. When facing a partnership dispute, always stay calm, and if you feel yourself getting angry or frustrated, take a moment to compose yourself.
- Break out the partnership agreement. You might have provisions in your partnership agreement that dictate procedures for disputes. At the very least, you need to make sure you are upholding your end of the partnership agreement before moving forward. Neglecting duties may seem like a prime way to get back at your partner, but it could make you liable for damages in a lawsuit.
- Continue to put business interests before your own. Your instinct may be to protect yourself over your business, but you owe a fiduciary duty to the business. Failing to uphold this responsibility could cause even more legal problems.
- Contact a lawyer. Business disputes don’t have to end in messy court proceedings. An experienced business litigation attorney can help you and your partner reconcile, or create unique resolutions benefiting you and all of the hard work you have put into your business.
San Antonio Partnership Dispute Lawyers
Chasnoff Mungia Pepping & Stribling PLLC has decades of experience in business litigation matters. Our attorneys have experience working with many types of companies on the internal conflict arising from disputes. We can develop and implement management strategies to help prevent such issues, and work with partners to reconcile disputes threatening their company. Contact us today to schedule a consultation with one of our partnership dispute lawyers.