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

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?

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Attorney answers 1


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).