Common Types of Business Owner or Partner Disputes and How to Resolve Them

 Posted on October 11,2022 in Business Formation

Business disputes between owners and/or partners are not uncommon. While some disagreements can be resolved easily, others may require the help of a mediator or even legal intervention. The most important thing is to communicate openly and honestly with each other to try to reach a resolution. Below, we will discuss some of the most common types of business disputes and offer tips on how to resolve them.

1. Disagreements Over the Direction of the Business

One of the most common types of business disputes is disagreements over the direction of the business. This can happen when partners have different ideas about where the business should go or what it should do. If you find yourself in this type of dispute, it is important to try to see things from your partner's perspective and to compromise where possible. If you are unable to reach a resolution, you may need to seek outside help, such as from an attorney, mediator, or arbitrator.

2. Personal Disputes That Affect the Company

Personal disputes between partners can quickly translate into business disputes if left unresolved. Whether it is a disagreement over compensation, credit for work done, or something else entirely, personal disputes can have a significant impact on the operation of your business. If you find yourself in this situation, it is important to communicate with your partner and try to resolve the issue in a way that is fair to both of you. If you are unable to reach a resolution on your own, you may need to seek outside help

3. Different Management Styles

Another common source of conflict among business partners is differences in management style. One partner may prefer a more hands-off approach while the other wants to be involved in every decision that gets made. This can often lead to feeling like your business partner is micromanaging you or vice versa. If you are having trouble seeing eye-to-eye on management style, again, communication is key. Talk about what each of your management styles entails and see if there is a way to meet in the middle.

Speak With a Fort Worth Business Dispute Lawyer

Business disputes are unfortunately all too common—particularly between business owners and their partners. Luckily, most can be resolved without the need for an attorney, but sometimes, legal action is required to protect your best interests and those of the business itself. If you are involved in a difficult dispute with your business partners or fellow owners, contact a Texas business law attorney at Gonzalez Law, PLLC. Call 817-349-7330 to discuss your case in a free consultation today.

Source:

https://www.forbes.com/sites/forbesbusinesscouncil/2020/03/09/13-smart-ways-to-handle-internal-disputes-when-youre-a-growing-team/