Co-founding a Florida business with another person can have benefits that starting a company on one’s own does not. Of course, having more than one person in charge could also set up some imbalances that could lead to conflict if co-founders or partners are not always on the same page. In some cases, an imbalance could lead to a partnership dispute that could rock the company.
Having a dispute with a business partner is not always a dire situation. However, if conflict is present much of the time, it may be worthwhile to assess the situation. If parties can anticipate a possible dispute, they may be able to lessen the chances of a disagreement becoming contentious.
To assess a partnership that may be problematic, co-founders may want to ask themselves the following questions:
- Does one or both partners actively avoid or minimize interactions with each other?
- Does one or both partners have defensive reactions when trying to make important business decisions?
- Does one or both partners feel under appreciated by the other?
- Do the partners try to keep conversations strictly business and avoid talking about personal matters or spending time together outside of work?
- Do the partners feel resentment toward each other over past decisions, slights or authority issues?
- Is there an imbalance in the amount of work each partner does, power each partner has or responsibilities each partner handles?
If the answers to one or more of these questions is yes, it may be worth considering why the situation is that way. It is also important to keep in mind that these issues could create an environment in which a partnership dispute is likely to arise. If Florida business partners do find themselves in conflict, they may need to determine whether legal action could help them resolve the issues.