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Exploring conflict resolution options for partnership disputes

On Behalf of | Mar 7, 2019 | Firm News

Running a successful business means making sure that operations run as smoothly as possible. Often, ensuring smooth operations means working with like-minded and driven individuals who care about the company as much as you do. As a result, you may have decided a long time ago to bring in a business partner to help you manage the ups and downs of running a business.

Of course, even the strongest relationships, whether personal or business related, can have their difficult moments. Unfortunately, partnership disputes can sometimes be more difficult to address and resolve than personal relationship difficulties. Therefore, you likely want to find the best ways to handle any issues you and your business partner might face.

Conflict resolution

Most likely, you want to come to conflict resolutions in ways that will have the least negative impact on your business. As a result, you may first want to try to handle any conflicts internally and possibly even just between you and your partner. Some ways to work toward addressing issues include the following examples:

  • Consider your partner’s point-of-view: Because you have so much invested in your company, you understand the importance of every decision made, which could cause you to feel overly emotional if your business partner disagrees with you. However, if you consider your partner’s view rather than dismissing it, you may be able to reach a compromise.
  • Listen to each other: In addition to considering each other’s perspectives, it is also important to listen to what the other person says. Setting a certain amount of time for each person to speak without interruptions could help air grievances without coming to an unproductive argument.
  • Account for possible issues: Of course, the best way to resolve a conflict is to stop it before it even starts. If you can account for factors that may lead to issues in the future, you may have a better chance of also finding solutions to those potential issues ahead of time.

Still, try as you might, you could wind up in a situation where you and your partner simply cannot resolve an issue on your own. As a result, it may be wise to explore legal options for reaching partnership dispute resolutions. In some cases, litigation or dissolving a partnership may prove necessary, but exploring all available options with an experienced Nevada business attorney is wise.

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