When I started a company long ago, a consulting partnership, my cofounder and I picked the simplest dispute resolution mechanism: if we really couldn't agree on something, one person could name a price and the other could decide to buy or sell at that price, giving the purchaser sole control. It's basically the equivalent of how you teach two kids to cut cake in half.
I was skeptical that we even needed that; after all, it was a partnership. With a friend! What could go wrong? But our lawyer insisted.
Turned out he was right. I learned two lessons: 1) get a good lawyer at the start, and 2) it's worth thinking through the common bad outcomes and agreeing on how to handle them before the bad situation hits. Because once you're in a dispute, it is way too late to try to get agreement on how to resolve disputes.