Going into business can be rough. It is not always rainbows and butterflies. It is hard work. To help ease some of the stress associated with owning and operating a company, some people open with a partner or bring one on after the fact. Unfortunately, some Wisconsinites may find that doing so also has its challenges, and certain disputes between partners may require business litigation.
Every partnership has its issues. None are perfect, even if they start out that way. Some business partners may find that their managing styles do not mesh or that personal habits cause problems. Some may struggle to set boundaries, and some may struggle in their commitment to each other and the company.
What can be done when a partnership is not working out? What if one partner is failing to meet the expectations drawn up in the partnership agreement? Is litigation the only way to address the matter?
When things are not working out and it is affecting the health of the business, the first place to start is private negotiations. Many times, partners can either work out their issues by talking about them and creating new partnership agreements, or ending the partnership. When talking fails to work, however, litigation may be the best way to go.
It is understandable that business owners in Wisconsin would want to keep things out of the court room. Business litigation can be costly and time consuming. However, some partnership issues just cannot be resolved in any other way. An experienced attorney can assist those who are dealing with partnership disputes in resolving the matters in ways that impact their companies as minimally as possible.
Source: entrepreneur.com, "6 Challenges Confronting Every Business Partnership", Murray Newlands, Sept. 30, 2017