One of the hardest things that can happen to your business partnership is the potential of dissolution. However, there are some cases in which this is simply unavoidable due to various circumstances, and it therefore becomes imperative for you to know when to cut your losses and when to seek more professional means of dividing up your business.
Sometimes referred to as “business divorce”, dissolution is the ultimate outcome of irreconcilable differences between business partners. Whether it’s because you and your partner(s) have differing values, different models of business, different goals or different ideas of how your business should run, there may simply be some hurdles of opinion and thought that can’t be jumped. Over time, this could lead to you building up resentment toward your business partners which could end in you simply being unable to overcome any future challenges together.
Fortunately there are options for you to look into if you have reached the point where you can no longer work out your differences with your business partners. Mediation and negotiation are both options for you to consider. However, if you are struggling immensely with communication and think that negotiations are off the table, there are other legal paths to take.
To read more about partnership and shareholder disputes and what you can do if you find yourself in a dispute situation, you can follow the above link to our web page. There you will find a number of resources and information sources that may help you determine what to do next.