Dissolving a Business Partnership

Just as selling your small business can be a complicated and stressful task, so can dissolving the agreement between you and the other partners in the company. Whenever attempting to invalidate any type of partnership, it is best to enlist the services of a reputable corporate lawyer in West Palm Beach. With an industry expert by your side, dissolving a partnership can be swift and hassle free. Here are a few important actions you can take after deciding to cut the cord between your business partner or partners.

Include all the partners

Many times, there are partnership agreements that involve more than two people. If this is the case in your situation, it is vital that you have a group discussion with all the different parties involved in the business. This way, you can avoid misunderstandings and assure that every partner is on the same page.

Review the partnership agreement

If your partnership is documented on paper, there will likely be a protocol to follow in the event that one or all parties want to dissolve the partnership. In order to avoid legal complications that will lengthen the process, review the agreement and make sure that all of the regulations are being followed. This will also allow for a smoother dissolution process from beginning to end.

File the papers with the state

In order to be certain that your partnership ends completely, you will want to file the proper paperwork with the state. This will make your partnership officially void. Correctly filing your papers will also prevent ongoing complications, such as an outstanding debt being brought up in the future. An experienced corporate lawyer in West Palm Beach can certainly help you in taking the proper steps and making sure that you file these documents in the correct manner.

If you are looking to dissolve a business partnership, Kelley Kaplan & Eller would welcome the opportunity to meet. We invite you to schedule an initial consultation and sit down with one of our corporate lawyers today.