Regardless of how cooperative things might be
between you and a business partner, the world of business and the challenges it
creates often forces many partnerships to turn sour quickly. It is often
the case that friends create business partnerships due to a shared vision,
objective and philosophy of business. However, when this shared vision
ends, or when you mix money or income and emotion together, the result can
unfortunately be a combustible combination.
While most business partnerships last less
than five years, those who make it beyond that timeframe are still likely to
suffer barriers and problems that keep the partnership working at a level that
is less than its potential. However, for those business partnerships that
do break up, this “break up” can be as intense and damaging as a marriage that
is ending. As with marriage, a business partnership involves a lot of
mutual investment of time and money that can yield a lot of bitterness and
dissatisfaction when it isn’t working out for one or all parties involved.
The first step to dealing with a business
partnership dispute is to get professional help. As with a marriage that
is falling apart, a business partnership falling apart can greatly benefit from
professional assistance that will ask the right questions and make sure the air
is cleared between all parties involved.
This is why hiring an arbitration attorney to
help solve business partnership disputes works so well—an arbitration attorney
can help partners determine the right course of action and resolve the conflict
as quickly as possible so that business can get back to usual. A
partnership dispute arbitration attorney can also help you redefine your
business objectives, return your partnership to its core philosophy, and/or
help you determine whether or not the partnership should continue or come to an
end if an impasse is reached.
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