I have fallen out with my business partner what should I do?

I have fallen out with my business partner what should I do?

I have fallen out with my business partner what should I do?

Answer: 

Sometimes, perhaps through nobody’s fault, business relationships reach a natural conclusion.  When this happens, it is important that all parties continue to communicate effectively to ensure that the value they have created in the business is not lost. 

Engaging in sensible discussions at an early stage will allow both parties to go their separate ways, whilst retaining as much value as possible in their respective businesses.  Early resolution, perhaps through mediation or without prejudice discussions, can allow the business to be carefully and fairly divided up, or for one party to exit the business with an appropriate amount of compensation.

In these circumstances mediation is a particularly effective tool, allowing all parties to resolve their issues and go their separate ways without destroying the value in the business.

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