Published on May 30th, 2018 | by Kandace H0
Corporate Challenges: What To Do If Your Company Has A Dispute With A Partner
Many great organizations are built by a variety of business owners and partners, each of which is able to provide a specific skill set and service to the organization as a whole. However, there could come a time when partners do not agree on an important matter and they will have to find a way to settle the dispute. There are four tips that should be followed to help you to settle the dispute with your partner.
Go to Bylaws
If you are having a dispute with a partner at your business, the first thing that you should do is go directly to your bylaws. Most organizations have a business and operating agreements in place that spell out how exactly certain decisions and disputes will be handled. If you are looking to keep this civil, going to these bylaws will give you a great way to come up with a fair solution that has already been agreed upon by all parties.
Set Aside Time to Talk
When you are having an issue with your business partner, many of the problems can be resolved by simply talking and listening to each other. If you are able to have a civil conversation with each other, you should set aside at least five minutes to discuss the issue at hand. This could allow both sides of the dispute to understand where the other side is coming from. This could then be a great first step to coming up with a fair resolution.
Find Middle Ground
While some disputes may seem impossible to settle, many can end up being resolved if both parties are willing to find a middle ground. You should try and work together to come up with a solution that will work for all parties involved. This will ensure everyone is satisfied and people keep moving forward.
If you are not able to come up with a fair solution outside of the legal process, the next best thing that you could do is go through a commercial litigation process. When you hire a commercial litigation lawyer to represent your organization, they will be able to handle much of the negotiations and deliberations with the other party. This will help to ensure everything goes smoothly and that your rights are properly represented.
While company disputes can be stressful and frustrating, it is important to remain respectful. This will help to ensure that you do not ruin a relationship that you spent years developing.