Business partner disputes are incredibly taxing. When you started your company together, you felt like a team, like you’d work hard together to accomplish something great. Now you feel like opponents, facing off against one another and putting everything in jeopardy.
These disputes can happen for all sorts of different reasons. For instance, you could get involved in a financial dispute. Maybe the company isn’t doing so well right now and you want to reduce your salaries to stay afloat, but your partner doesn’t want to comply. Maybe you never actually wrote out what your salaries would be, so it’s unclear how you need to divide the earnings. Perhaps your partner is spending company money on things you do not approve of or without asking your permission.
Another reason for a dispute could just be the issue of authority. Perhaps you always thought that the two of you had equal authority, but your partner thought that they ran one part of the company and you ran another — sales and product design, for instance. Now they’re refusing to listen to you or telling you what to do. You feel like you’re losing control of your own company, and that certainly is not what you wanted.
No matter why the dispute arises, it’s sure to add strain to the business. It may be the end of your partnership, but do you even know how you’re supposed to approach something like that? This isn’t a place you ever hoped to be, but here you are, and now you need to know all of your legal options.