Business Partner Disputes
Texas Attorney, Wade McClure, understands the success of your business depends on the sale of your products, services, and a healthy business partnership. But disagreements and opposing interests within the company leadership can put the whole operation in jeopardy. When business partners begin to deviate from their mutual agreements, the ownership, management, and even the foundation of the business are in danger. This does not always mean it is the end of the road, but an opportunity to find common ground and move toward a solution that can benefit both parties.
Plan Ahead with a Written Agreement
We recommend you discuss with your business partner(s) topics of interest beforehand in anticipation of a potential argument. Talk about topics that are likely to turn into an argument in the future and once these issues are discussed, enter into a partnership agreement that indicates how disagreements are solved in a professional manner. This is helpful because it provides a set of expectations for all business partners involved in the business.
A Solution-Driven Approach
Just as it is with close relationships, conflicts in business partnerships will arise. When you are working closely with another person or with a leadership team, you may get emotional and lose sight of the bigger picture. Especially when a substantial portion of the business depends on the partnership, it is important to learn how to handle conflicts among business partners instead of arguing who is right. The disagreement between partners doesn’t need to end in a train wreck, and there are critical steps you can take to resolve disputes and manage arguments so each party can share their viewpoint and a compromise can be reached.
Keeping the Business Afloat
When there is a disagreement between you and your business partners on an important issue, it can be easy to shift into defensive mode and come up with a list of rebuttals to prove your point. But it can help to muster the patience to consider the perspectives of your other partners to determine whether the dispute can be resolved in a quick and professional manner. Remember why you decided to team up with your business partner(s) in the first place, you both shared a vision for the company, and it can help to remedy the dispute if this is brought to the table.
Seeking Legal Assistance
If all efforts fail to meet on common ground, a third party may need to step in to resolve the conflict among the partners. Wade McClure acts as a mediator for all kinds of disputes that may arise among business partners, and we are determined to find a solution that works for all parties involved. If mediation is not an option, Wade McClure also offers consultation services and can even pursue litigation against your business partner(s) when deemed necessary.