Operating a partnership can cause discrepancy in company decision-making and policy. The best way to avoid these disputes through is thorough business planning and writing a clear operating agreement at the onset of the business. Operating agreements create the foundation of a business partnership, but even these can cause disputes if one partner does not agree or comply. In this case, the best course of action is to seek legal advice from a mediator or attorney.
The operating agreements should outline the responsibilities, ownership, expected capital contribution and distributions for each partner, and the process for settling partner disputes or partner termination. A practiced attorney can help write and review these documents. In times of stress, the same attorney can serve as a mediator to solve problems and find solutions that benefit all partnership members.
If an agreement cannot be made, consult an attorney to determine the next steps in a partnership termination. Some companies are best operated under an alternative structure. A business restructuring can mediate partnership disputes in some cases without any member leaving the company or unfairly compromising on important issues.