Business Dispute Law Firm Rockville, MD
If you and your business partner are having a disagreement, a business dispute law firm Rockville, MD residents trust may be able to help. Disputes are actually quite common in all types of businesses.
Common Partnership Disputes
One of the main causes of partnership disputes are finances and typically arises when a company is facing financial difficulties. For instance, one partner may misuse company assets for personal use.
Some partners may have trouble deciding how to use their income to improve their company. For example, one partner might want to invest more money in employee training while the other partner may put preference on investing money in marketing.
Disputes can also arise if one partner does much more work than the other partner, but receives the same amount of profits. It’s important for a partnership to have an equal division of responsibilities to sustain a business.
How to Resolve Business Disputes
Identify the Issues in the Dispute
If you and your business partner are having problems, you should first thoroughly examine the issues at hand. Don’t let your emotions take over and cloud your judgment. Determine if the dispute may relate to a misunderstanding or not. If you believe you and your partner just have misunderstood, you should carefully discuss the issue and clear things up. Misunderstandings can be about anything from unequal division of work to different management styles.
Discuss the Issues at Hand
Once you determine the key issues in your dispute, a business law lawyer in Rockville, MD may suggest talking it out with your partner. Schedule a meeting and try to sort the matter out. Try to remain calm and only talk about the facts. Instead of bringing up petty issues, review the goals and priorities of the company as a whole.
Bring in a Mediator
Some disputes are difficult to resolve on your own. If this is the case with you and your partner, think about bringing in a neutral third-party. He or she will facilitate the discussion and try to help you come to an agreement quicker.
Hire a Lawyer
If you and your business partner are unable to settle your differences through a mediator, you may want to speak to a lawyer from a business dispute law firm in Rockville, MD. Your lawyer will inform you of your rights and may help you avoid taking the matter to court.
If you and your business partner are having a dispute, get in touch with The Law Office of Daniel J. Wright.