Business relationships can be like a marriage. And like a marriage, sometimes a business relationship can sour. If a dispute between you and your partner has caused your relationship to deteriorate, you may be curious about your next step.
Can you work past your differences or is it time to move on? Will litigation be necessary to settle your differences?
Can you patch up the dispute?
Sometimes, disputes are temporary rifts due to an extenuating circumstance. Other times, there is an unbridgeable gap between the two parties' positions.
The first step to figuring out your next course of action is determining what kind of dispute is occurring between you and your partner. Is the dispute over something temporary or did a new situation reveal a fundamental philosophical difference? Even worse, did your partner do something fraudulent that would prevent you from ever trusting them again?
If you have determined that your business relationship must end, your next step will be to determine how to resolve the dispute. Depending on the situation, the solution could be as simple as buying your partner out of the business.
However, your next step can also be much more complicated. If your dispute cannot be settled by simply ending the business relationship, you may turn to litigation to settle the dispute.
When it comes to business disputes, you should consider your full range of options as well as all the consequences of your decision. An experienced business attorney can help you review the details of your situation and advise you on your options.