How to resolve a dispute with a business partner

On Behalf of | Sep 9, 2020 | Business Law

Forming a business partnership can go a long way in helping you reach your career goals. However, even if you genuinely get along with and care for your partner, there are sure to be times when you don’t see eye to eye.

Should you have a disagreement, it’s critical to work through it in a timely and efficient manner. Doing so will put your mind at ease, while allowing you and your partner to turn all your attention back to your business.

However, resolving a business partner dispute is often easier said than done. For one reason or the next, you may struggle to find common ground. If a dispute is lingering, here are some things you can do to put it in the past.

  • Talk about it: You have the option to sweep it under the rug, but doing so is likely to cause more long-term harm than good. When you talk about the dispute, you can get your thoughts off your chest while hearing out the other person. This is often all it takes to find a mutually agreed upon resolution.
  • Give yourself room to breathe: Yes, you want to resolve your dispute as soon as you can, but that doesn’t mean you should force the process. Take a step back, as necessary, to give both of you room to breathe and think about what comes next.
  • Bring in professional help: If you’re unable to work through the dispute on your own, consider the benefits of a mediator. This person can’t make final decisions on your behalf, but they can mediate your discussions and help you move toward a resolution. Sometimes, all it takes is another person in the room to have a more meaningful discussion.

The last thing you want is for a business partnership to turn sour. Not only can you lose a friend, but it can also impact the overall health of your organization.

If you’re unable to resolve your dispute, no matter how hard you try, review your operating agreement and consider your legal options. You don’t want to miss out on anything you’re owed.