Starting a business is a big move. It takes guts, hard work and a lot of determination to make it a success. Doing it with a partner certainly has its advantages, but it can also have disadvantages as well, as disputes will most likely arise at some point. Those who own companies in Oregon and who find themselves dealing with a partnership issue would likely benefit from the services of a business law attorney when seeking resolution.
Any business partnership can start out great. Conflicts tend to arise over time. According to a recently published article, there are six main reasons why partnerships fail. Those reasons are:
- Inability to trust one another
- Failure to achieve success
- Personality conflicts
- Different goals/values
- Different levels of commitment to the company
- Partner is a friend, spouse or other relative
Partners need to be on the same page in order for their businesses to thrive. When one of the above issues exists, some may feel that ending their partnerships would be the best thing to do — and they may be right. Sometimes, separating is the right choice, and this may require closing up shop or one partner buying out the other. In other cases, it may be possible to talk out the problems, set new partnership terms and keep moving forward.
Every business partnership dispute is unique, which is why there is not one standard way to deal with one when it arises. Oregon business owners who are having partner problems can turn to legal counsel for guidance on how to address the matter. With the assistance of a business law attorney, swift and appropriate resolution can be achieved through the negotiations process or, if absolutely necessary, litigation.