Partnership disputes are necessary if there is a discrepancy between the two partners. The main cause of such disputes generally ranges from one partner understrapping his boundaries, misappropriation of business assets, and one partner shirking responsibilities or work.
In such disputes, there can be no one winner or loser and all sides are entitled to legal counsel. But, there is no guarantee that the settlement will resolve any of the problems since there are many factors that determine the final disposition of the matter.
As such, it is important for parties to get together with a neutral third party that can help them find a common ground and then come to an agreement on what should happen next. This type of the third party must have a good understanding of how to deal with these types of disputes so it is best if they are represented by a reputable firm with years of experience in the area.
When trying to resolve the issue without a lawyer, it is important for both parties to be as honest and open with each other as possible so they can both see where they are at in the dispute and know what they are fighting for. For instance, it would be wrong for a business partner to lie to his or her partner and claim they have a huge order that is ready to pay but then refuses to pay it. The partner would not like being lied to but, in this case, it is in their best interest to pay it because if they don’t, they could face criminal charges.
Once the matter is settled, the lawyer should help the parties come up with a written agreement that outlines the terms of the settlement and any further actions the party should take. They will be responsible for drafting the contract, keeping a copy, and filing it with the court when it is due.
When this contract has been drafted, it is important for the parties to maintain a professional relationship until it is signed. The lawyer will help the parties to review their agreement to ensure that it is legally binding. Once the agreement is signed, the lawyer will then represent the parties in any future legal actions that arise out of the dispute.
It is important to remember that once the contract has been written, it cannot be changed once it is signed. However, a couple of small changes may make it easier to reach an agreement.
Finally, after everything is finalized, it is important to try to be as helpful as possible to the other side to keep the case involving a disagreement as amicable as possible. When working out an agreement, the parties should keep in mind that sometimes a compromise is better than a complete and total loss.
When trying to settle a disagreement, it is also a good idea to hire the help of a mediator who can help you and your partner come to an agreement on what to do next. By having a third person to act as a neutral third party, the parties can keep a more open and honest line of communication, allowing them to avoid arguments.
It is also a good idea to use a mediator or attorney to keep the lines of communication open with your partners when it comes to the future. If they are getting negative responses from one of your partners, this can put the entire case in jeopardy so it is a good idea to discuss this with the third party or their attorney before it becomes a problem.
While this type of case is typically not worth spending the money for legal help, it is still possible to use mediation and/or an attorney help if both partners are making it a priority. It is important to have both parties involved in the process so it makes it a fair deal and not an attempt to avoid paying for anything.