There is a wide range of business structures that affect how your business is run. For example, you may be a small business and operate as a sole trader. Alternatively, you may form a partnership with another party to help further grow your business. Within this partnership, experiencing a commercial dispute could harm the financial health of the business as well as its future development. This article will explain some key ways to resolve partnership disputes in the UK.<\/p>\n\n\n\n
Firstly, you may have a business partnership if you run a business with one or more people, using this joint venture to make a profit. Importantly, a partnership is a type of legal relationship. In the course of running the business, key disagreements may arise where: <\/p>\n\n\n\n
These disputes can be difficult if your partnership is a general partnership or a limited liability partnership<\/a> (LLP). This is because, in this case, you and the other partner(s) all have equal rights and duties. <\/p>\n\n\n\n The first point of reference when a dispute arises is your written partnership agreement. <\/p>\n\n\n\n This should detail the rights and obligations of you and the other partner(s), encouraging transparency between all parties involved. For example, the agreement may enforce negotiation or include a dispute resolution clause that outlines that you should try to resolve the conflict through alternative dispute resolution<\/a> (ADR). Key ADR methods include:<\/p>\n\n\n\n You may also consider undertaking ADR voluntarily without it being in the partnership agreement, as it is more flexible and less costly than formal litigation. However, going to court is sometimes necessary if your dispute has failed to progress. Since it is a last resort, you should seek expert legal advice to help you understand your options. <\/p>\n\n\n\n\n\n Continue reading this article below the form\n <\/i>\n<\/a>\nHow Can I Resolve a Business Partnership Dispute? <\/h2>\n\n\n\n
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