In a word, that is what it is all about when it comes to anticipating, avoiding and smartly responding to partnership disputes that can arise in a New York business.
You wouldn’t give a speech in public without first preparing for it, would you? Or act upon a life-altering adjustment in your personal life without first weighing the relevant pros and cons?
It is absolutely critical for would-be partners in a business relationship to timely focus on and make plans for addressing potential roadblocks and material challenges down the road. We note that imperative on a page of our website discussing partnership disputes at Rich Michaelson Magaliff. We stress therein that partners “should discuss all [key] matters early on, before they have become too invested in the business and the partnership.”
Indeed, it is the timely, thoughtful and thorough consideration of possible disputes in the future – as well as partners’ actions in dealing with them – that often spells the difference for a business partnership. Proactive entities can often respond to and survive big challenges. Conversely, those that fail to identify possible future conflict and have a well-considered and tailored written partnership agreement in place to handle it are far more susceptible to failure.
Early and candid communication among business partners concerning things like long-term company vision, growth strategy, leadership style and conflict resolution is critical to downstream commercial success. Proven business attorneys can work closely with valued clients to help them identify, negotiate and draft key particulars in a quality partnership agreement that will serve their enterprise well in the future.