At the launch of their new company, Florida business partners may look to the future with excitement and anticipation. Working with a friend or close personal acquaintance may seem like a good idea at the time, but after navigating the difficulties of business ownership together, it may be obvious that the partnership is no longer working. Breaking up a partnership may feel deeply personal, but removing feelings from this may help preserve the personal relationship after the partnership is over.
Ending one relationship, preserving another
It is possible to dissolve a business partnership while keeping the personal relationship intact. While it is complicated to end a partnership, communication and understanding can make this process simpler. Tips for keeping a friendship while ending a partnership include:
- Make the process of ending the partnership quick and decisive.
- Stay in communication and take the time to talk through things.
- Be willing to recognize that the partnership is no longer working.
- Be reasonable when making business-related decisions.
The end of some business partnerships can result in litigation and complex disputes, and further legal action may be necessary to effectively resolve the issue and reach a beneficial resolution.
Legal help is key
One of the most practical ways to protect one’s interests during a partnership breakup is to seek the help of a Florida attorney. It is not always possible to keep emotions out of this process, and sometimes, disputes are unavoidable. A business owner has the right to protect his or her long-term interests during partnership disputes and breakups.