When business partners disagree, it can affect the operations of the entire company. While partners do not have always have to see eye-to-eye in order to work together effectively, there are times when disagreements between partners can lead to difficult scenarios that begin to have a negative impact on a Louisiana business. Seeking a resolution to an ongoing partnership dispute may help avoid litigation.
Keeping a dispute out of court
It may be both easier and more cost-effective to first seek an out-of-court resolution to an ongoing partnership dispute. Some of the most practical options to achieve this goal include:
- Mediation – This is a process that employs a neutral third-party to help with discussions, guiding the parties toward a resolution.
- Buy-out – If business partners find they can truly no longer work together, one partner may be able to buy out the stake of the other.
- Sell to new owners – If partners no longer want to work together, they may decide to keep their business intact and sell the company to new owners.
If any of these methods do not result in a resolution, it may be necessary to result to litigation to conclude the dispute and prevent further harm.
If litigation is necessary
A partnership dispute may lead to litigation if attempts at resolving the matter are not successful. Before agreeing to terms of a resolution or making other important decisions, it may help to first discuss the issue with an experienced business litigation attorney. This assistance can be critical for a Louisiana business partner seeking to protect his or her interests.