Many business owners in the construction industry in California have at least one partner. While there are many benefits of this arrangement, it could lead to a serious dispute at some point.
If you’re facing a dispute with your business partner, it’s important to take immediate action to reach a mutually agreed upon resolution. Letting a dispute linger for too long can take a toll on you, your partner and the health of your business.
Here are four things you should do:
- Stop disputes before they start: If there is something you know will prompt a dispute, talk it out as soon as possible. This gives both individuals the opportunity to present their opinion, allowing you to work together to avoid a dispute and settle on common ground.
- Don’t rush to judgment: It’s easy to rush to judgment, assuming that your approach is the right approach. However, if you do this, you’re more likely to turn the issue into something more serious than it needs to be. If you value your relationship with your partner, don’t rush to judgment.
- Talk it out: Rather than sweep your dispute under the rug, schedule a “listening session” where both individuals have the opportunity to present their opinion and position on the matter. Remember, this isn’t a time for you to do all the talking. You should also carefully listen to your partner.
- Find help: If you’ve tried everything and can’t seem to make progress, search for outside help. For example, a neutral third party mediator can help you handle your dispute and reach a resolution as quickly as possible. Neither of you want to take things to this step, but if nothing else is working it may be the best way to make progress.
When you go into business with a partner, you can be sure of facing conflict every now and again. Fortunately, with the right approach, you should be able to work through every issue as a team.
If your partner doesn’t want to make things better, it’s time to learn more about your legal rights in Southern California. You may have no choice but to take legal action, as this could be the best way to protect your interest in the business.