When you embark on a new business endeavor or if you are making adjustments to your current operations by bringing in a partner, you may be adding tremendous value to your company. The extra support and expertise can help your business undertaking be a success. However, working with another party is not always the easiest thing to do. When there are disagreements, sometimes the divide and contention that comes along with such situations can be extremely detrimental to the business’s operations.
Ideally, when you work with a partner you would experience no bumps in the road or major conflicts with them. This is not always the case. This is why considering those things that you can do in preparation for working with another party can play a large part in helping you avoid potential clashes or resolve issues when they arise. Moreover, laying the groundwork beforehand can make coming to a resolution done so in a way that yields the least amount of pain.
In California, the seasoned Los Angeles business attorneys at Leiva Law can help you when you decide to go into business with a partner.
How Can You Avoid Partnership Disputes?
Business owners should consider working with an attorney to best understand what initial and preparatory actions should be done to protect their interests and that of their business. While there are many benefits to a partnership in business, there could also be future complications and even a falling out that transpire. Some of the top actions you can take to ward off potential prospective issues include:
- Work with a Los Angeles partnership dispute attorney at Leiva Law to write an agreement that defines every aspect of the business relationship, how the business will function, and what steps will come about in every scenario that could take place. With a written, detailed agreement, should a dispute arise, the guidelines for how to address the situation will already be clearly laid out. Specific instructions and structure can make coming to a resolution much less stressful.
- Always practice explicit and respectful communication. When a difference of opinion or other conflict arises, you can put aside dedicated time to discuss the issues. Instead of focusing on the problems that exist, shifting your attention to possible solutions can be more productive. When possible, avoid shame and blame as neither do much to fix anything.
- If polite and civil discourse is becoming an impossible challenge, then a mediator may be able to facilitate more fruitful conversations. A mediator can also be skilled at keeping emotional situations calmer.
- Should partners come to an impasse, it may be best to dissolve the partnership and move on. In some situations, an amicable resolution to work together is not realistic.
Speak with a Los Angeles Business Attorney Today
For assistance developing a partnership agreement in California or for legal counsel regarding a partnership dispute, contact the experienced Los Angeles business litigation attorneys at Leiva Law. You can schedule a free consultation with a skilled legal professional at Leiva Law by calling (818) 519-4465 today.