The most practical and cost-effective way of avoiding and dealing with partnership disputes, whether traditional partnership or LLP, when they arise is to ensure the partnership agreement is suited to the partnership.
A good partnership agreement will provide for how disputes are resolved and will provide that the partnership can be dissolved in certain circumstances. This only works however, if the partners are willing to effectively agree how they will part and who is entitled to what. We all know that, due to the nature of businesses and human nature, this is often not the case.
Where the dispute is not relatively amicable, other methods available are mediation, arbitration, adjudication and Court proceedings.
At McHale Muldoon we appreciate that emotions, as well as business factors, can effect the relationship between partners which can make disputes more difficult to resolve.
We appreciate the need for a practical, commercially focussed and cost-effective approach to agreements and steer clients in the right direction.
The most effective method of dealing with the dispute is to seek advice at the earliest opportunity. If you have a partnership dispute, please contact our Dublin office today on 01 659 9405 or email us at firstname.lastname@example.org.