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What are my options when a partnership is not working?

On Behalf of | May 17, 2022 | Business & Commercial Law

Including a partner in your new business can help you through some of the challenging times that come with starting a new company. In addition to moral support, they can also help you with many practical aspects of starting your business.

After a while, you and your partner may start to feel the tension in your relationship. In some cases, it comes from one partner pulling more of the weight of the business; in others, it may come from disagreements about the company’s future.

Here are a few options for dealing with a partnership that is not working.

Seeking support

When you and your partner’s relationship feels stressed, you may begin to consider dissolving the partnership. However, with some time and consideration, you may find that your challenges come from a misunderstanding that could be fixed with some changes in communication.

Before jumping to ending your partnership, you can seek a neutral third party who can help you work through your differences. In some cases, a mediator can help you resolve your conflict without dissolving the partnership.

This could be the end

There will come a time when your partnership will end. It could end because of a dispute or so that one of you can change paths to another opportunity, but it will, eventually, end.

If you and your partner cannot resolve your disagreement, you may need to look at ending your partnership. Dissolving a partnership can take several different forms, depending on your initial agreement when you decided to work together.

As you work through difficult times with your business partner, it may help to explore the options available to you so that you can work toward resolving your conflict as peacefully as possible.