Partnerships are a tried and true structure for business relationships. Often structured in such a way as to give partners different levels of control, they are a versatile and proven business structure. Typically, the responsibilities and conditions for each partner are clearly laid out and agreed upon.
From time to time, however, disputes between partners can arise. While partnerships between two people where control is 50-50 might seem like the most common type of dispute, there are others.
It is possible that people may decide that they are entitled to more than they originally agreed based upon the work they put in when compared with other partners. It’s also possible that a partner may need to have their stake reduced if they are not living up to their previously agreed-upon requirements.
Whatever the cause of the dispute, when they arise it is of the utmost importance to have a third party present. This third party can help to resolve the tension, limit emotions, and help both sides come to an agreeable solution. Business lawyers make effective mediators in a partnership dispute. They can provide a neutral, outside view that can add clarity to a muddled situation.
In addition to the advantage of an outside perspective, business attorneys also have the required legal knowledge to effectively and correctly resolve a dispute between partners.
If you are dealing with a partnership dispute, call McE Law today. Our team is ready to offer our assistance to you and to help you handle a difficult situation as best as possible.