Business

Partnership Disputes

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Partnership Disputes

Entering a business partnership can be profitable for all parties involved, combining assets and expertise to deliver a quality service that helps organisations to thrive. However, they're not always smooth sailing, with there always being the possibility you could encounter differences that mean you end up in a dispute. Finding a resolution as quickly as possible to minimise damage done to your business is imperative, which is why it's important to have a legal team you can trust.

At Forbes Solicitors, we have a fantastic team of legal experts who have experience helping clients to resolve any ongoing or active disputes. They'll aim to understand your situation and any personal objectives you have, to provide you with anything you need.

What is partnership dispute resolution?

Whilst a partnership can be a great opportunity that can be profitable for your business, you might not always see eye to eye. This can mean you enter a dispute and need to find a resolution that is specifically catered to your unique circumstances.

In some cases, drafting up a partnership agreement can help to resolve any disputes efficiently, but this won't work for all situations. This may mean you opt to enter mediation, arbitration, or another form of alternative dispute resolution.

What are causes of partnership disputes?

Every partnership is different, and this can mean that when a dispute arises it is for a variety of reasons. This affects the way that disputes are resolved, and it is important that your legal team understand what the cause of the disagreement between you and your partner is. This can usually be separated into two categories: general disputes and misconduct.

Misconduct can include a variety of scenarios where your partner has failed to fulfil what is expected of them due to specific circumstances, that has then had a damaging effect on your business. This encompasses addiction, fraud, theft, and any other breach of agreement.

However, general disputes are any disagreements that are more commonplace when it comes to a partnership. Including, but not limited to, disputes over:

Responsibility & Authority
Income & Profit Sharing
Business Objectives & Aims
Personal Disagreements

How are disputes settled in a partnership?

There are various ways that a dispute between two or more partners can be solved to reach the best outcome for everyone involved. These include traditional alternative methods of dispute resolution like mediation, arbitration, and negotiation. The idea is to have both parties understand each other's objectives and open a clear channel of communication.

What to do if a partnership agreement is breached?

There are a few different ways to handle a breach of a partnership agreement, which will be completely dependent on how it was breached and the severity of the situation. Consequences can vary, whether you expel your partner from the business entirely or enforce a mandatory temporary absence from all business dealings.

Why choose our partnership dispute solicitors?

Our partnership dispute solicitors are experienced in helping business partners to find resolutions for any active disagreements, so that disputes can be solved efficiently and minimal damage to the business is caused. At Forbes Solicitors, we can provide you with high quality legal professionals who specialise in partnership disputes and are trained in methods of conflict resolution. Get in touch with our expert team to find out more.