A true business partnership is a bond much like family. Though partners may not be legally married, they are legally, financially, and emotionally connected—very similar to a marriage. Where a married couple might opt for divorce, citing irreconcilable differences, a business partnership is motivated to work out their problems if the business is successful. Dissolving the partnership, or one half buying out the other half are generally options—but these are drastic steps.
Webb & Ord are skilled mediators (link mediation/arbitration page), having worked out amicable resolutions between parties so contentious they thought an agreement would be impossible. Having a level-headed third party to help find a compromise is a great start— having the arbitrator be an experienced lawyer is even better. The complexities of the human relationship may be deep and largely emotional, but the complexities of the law and commercial taxes, statutes and the link are strictly practical. The attorneys at Webb & Ord are experienced with those practical complexities, and will make sure that the settlement is not only agreeable to both parties but legally, financially and commercially viable.
If its time to settle the conflict without shutting down the business, contact Webb & Ord at 323-462-3736 to begin finding a solution to your partnership dispute.
Sadly, as in marriage, sometimes a business partnership has irreconcilable differences, or perhaps the company cannot afford to continue in such a manner and the partners have decided to agree on an exit strategy such as one half buying out the other. Even in theses cases, nay, ESPECIALLY in these cases, an attorney will be necessary to make sure that the proceedings are in accordance to local business regulations—as well as amenable and satisfying to both parties. A nasty separation can have lingering effects for years and years if one or both of the sides feels incomplete by the solution brokered.