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How can I resolve a dispute with my business partner?
Partnership
Partnership Agreement
Customer:
How can I resolve a dispute with my business partner? We've been in business together for 7 years. This is the first dispute we have gotten into. He is disputing pulling profits out of the company. I want to keep them in and reinvest them. It isn't what we agreed upon a long time ago and didn't expect the business to be as successful as it has been. How do people typically resolve these disputes?
Dolan W.
Hello *****! I'm so sorry that this is happening to you. I just had a few quick questions: 1. What specific terms did you initially agree upon regarding profit allocation and reinvestment with your business partner? 2. Has your business partner outlined specific reasons for wanting to pull profits out instead of reinvesting? 3. Have any written agreements been established that specify how profits should be handled, especially if business conditions change?
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