Partnership disputes are significant events for the company. The manner in which these are handled can have an impact on the business’s future success. It’s imperative that you take the time to think carefully about how to address the challenges you have with your partner.
Before you take any action about the dispute, ensure you understand exactly what terms are set in your partnership agreement. Those terms should be the basis of the decisions you make.
1. Keep the dispute away from the company
When you’re discussing the dispute with your partner, be sure you aren’t where employees and clients can hear the issues. When there’s news of disputes, there’s a chance that it may cause disruptions in operations as people worry about the problems. It may be best for you to discuss the problems outside of the workplace or behind closed doors.
2. Focus on experience and training
Finding the solution for the dispute isn’t always easy, so you may need to count on the experience and training of whoever is the most familiar with the issue at the center of the dispute. Active listening sessions and open meetings may help to resolve the problem.
3. Put the business first
Always put the business first when there’s a partnership dispute. This could involve several actions, including turning to alternative dispute resolution or outside experts for help to resolve the matter.
Always ensure that you’re complying with the partnership agreement and any other contracts that are set in place. It may behoove you to discuss this matter with a legal representative who can assist with this.