I want to dissolve a partnership in a startup business that hasn't barely begun yet.

Asked over 5 years ago - Howard, CO

I have put in 95% of the work, and the majority of the money and inventory. We were operating the startup on a shoestring, so not much money invested. Is there paperwork that can be done, so that this wouldn't have to go to court, if agreed upon by both parties?

Attorney answers (1)

  1. John Kenneth Friedman

    Contributor Level 7

    Answered . If both partners agree, all you need to do is draft a new partnership agreement; if you've not already executed a partnership agreement you can do so now so long as both agree. Absent a partnership agreement, the law stipulates that the division of profits is 50/50 (assuming 2 partners which your question indicates).

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