There’s a reason that many people don’t recommend starting a business with your friends or family members in Oregon. If you enter a partnership dispute with this person, it could destroy your business and ruin your relationship. However, you might be able to negotiate an agreement using one of these methods.
How do you settle a partnership dispute?
Planning ahead of time is always the best way to solve business disputes. When you start your business, you could include a management agreement in your contract that dictates how you and your business partner will resolve potential disputes. The agreement could require you to attend a mediation session or to give one party the option to “buy out” a partner. Your agreement could even dictate who makes the final decision.
If you didn’t sign a management agreement, you could still solve the dispute through the process of mediation. A mediator could help you resolve the issue without going to court. He or she might encourage you to meet with your partner in the same room and guide the discussion so you come to an agreement without getting hostile. By the end of your session, you might find that your business partnership is stronger than ever.
If nothing else works, you could always hire a business law attorney and take the matter to court. One of the downsides is that the judge will make the final decision. Even if you don’t like it, you’ll have to do what the judge says. However, bringing a judge into the debate could also help you and your business partner solve the dispute once and for all.
Are you going through a partnership dispute?
When you and your business partner first started your business, you might have had the best intentions. Unfortunately, your relationship might have eroded over time. Maybe one party thinks he or she is not getting paid fairly or is doing more work than the other.
Whatever the case, an attorney could help you negotiate your dispute with your business partner. You might be able to figure out a way that the two of you can continue to work together. If not, you might be able to arrange a “buy out” of the other party.