When two or more people come together to form a business partnership in Florida, there is always the potential for disagreements and conflict. While it is impossible to avoid all disputes, there are ways to deal with them effectively when they do occur.
Communication is an integral part of dispute resolution; thus, it’s best to do it respectfully. You and your other business partner should actively listen to what you have to say and acknowledge the opinions raised. Though staying calm in the heat of the moment can be difficult, it is important to remember that respect is key to resolving issues that could lead to business litigation.
Try to understand each other’s perspective
It can be easy to get wrapped up in our own perspective and fail to see things from another person’s point of view. But if you can take a step back and try to see things from your partner’s perspective, it will go a long way toward resolving the conflict.
In many cases, the best way to resolve a partnership dispute is to reach a compromise. This means that both parties involved in the conflict are willing to give up something to come to an agreement. For example, if you are arguing about how to divide profits, you may agree to split them equitably based on your unique contributions to the business. This can even be 50-50.
Consider seeking outside help
If you have tried all of the above methods and you are still unable to resolve your dispute, you may need to seek outside help. A mediator or arbitrator could help you reach an agreement.
It takes effort to keep a business partnership healthy and productive for all partners. Disputes can significantly affect your business and also your personal life.