When you have a business partnership in Florida, there are many types of disputes that can lead to the partnership failing. Breach of conflict is one of the main causes of partnerships that fail. There may also be disputes about how resources need to be used, especially when the authority of each partner is not established early on in the business.
Failing to evenly distribute the workloads between each partner can cause tension to develop when one person is working harder to manage the business. There may also be conflict if one partner is only funding the business and the other partner is investing more of their time and energy.
How to avoid business partnership disputes
If you want to avoid partnership disputes, it’s important to avoid operating without signing an operating agreement and putting everything into writing. Consider investing in a business litigation attorney, who may guide you through the process of drafting the correct documents and avoid leaving any important details out.
You also want to plan for worst-case scenarios to ensure that conflict and disputes are avoided. It’s important to discuss the plan of action if one partner decides to leave or if one of the co-founders can remove the partner. Discuss all possible issues objectively and collaboratively to ensure that unexpected events are easier to navigate if they ever occur.
Who can you contact for legal assistance?
If a business partnership is failing, contact a business litigation attorney who has experience handling similar cases. The legal professional may review any documents that designate authority or how to resolve specific conflicts. An attorney may inform you of your rights and advocate for you while representing you in court proceedings. They might also offer mediation services to help you settle outside of court.