How do you dissolve a business partnership?

Answer by  patti (29325)

If it is in fact a simple partnership, one of the two partners not wishing to continue dissolves the agreement. Assets and indebtedness could be issues, depending on how things were structured in the beginning. If the business was set up as a legal partnership, details are probably worked out in the agreement.

Answer by  CoachKat (88)

You will most likely need to get a corporate attorney to handle any disputes that the partnership may have and to handle the legal aspects that are unique to your partnership. Most states have a form for Dissolution of Partnership that you fill out, have both partners sign, and submit to your state.

Answer by  Imagin (88)

In the government office file a statement of dissolution ,have both the partners sign it. Notify the people. Examine all contracts & lone agreements.Appoint business attorney to help you.

Answer by  Liz59 (10966)

Well, the first step would be to contact your partner and state why you would like to dissolve the partnership. If you are not on good terms, then you have to go through the legal route. Contact your lawyer to go through business procedures.