Joining or Leaving a Partnership Requires the Assistance of an Experienced Attorney. Let L4SB Help You Quickly!

Make Sure You Consult an Attorney Before Joining or Leaving a Partnership.

If you’re looking for more capital to get your dream business started or are already working with your best friend on a handmade project that has just become lucrative, then it’s time you looked at creating a formal partnership.

General partnerships can be quite informal business relationships, and you actually don’t even need anything in writing to form a partnership. The key factors that make up a partnership are two or more people carrying on as co-owners and sharing profits. Even if a ‘partnership’ wasn’t your intention, if this is what is happening your relationship will be deemed a partnership and all partners will be liable for the obligations of a partnership.

And, although, there is no requirement for a written partnership agreement, it’s an excellent idea to have one. It will prevent any possible disagreements about profit or vision and instead give your partnership a solid direction and focus.

Join Or Leave A Partnership

Let an experienced business attorney from L4SB help you manage a Partnership.

Contact Us Today

Why L4SB?

Law 4 Small Business has a Join or Leave a Partnership plan which has many valuable benefits with regards to partnerships. Your matter will be handled by an experienced business transaction attorney who will: do a 1-pass review and edit of your closing documents, check for logical consistency and fit with your expectations, identify and easily list any issues, offer 15 minutes of free Q&A.
Additional add-ons to the Join or Leave a Partnership plan include 24-hour turnaround service and other legal services. If you’re interested, find out more by giving us a call today.

Steps to take when leaving or dissolving a partnership:

  1. Review the agreement in order to follow the dissolution protocol.
  2. Discuss the fact that you want to leave or dissolve the partnership with your partner, here you can start to chat about the debts, liabilities and how to end things.
  3. File a dissolution of partnership form to announce the end of the partnership formally.
  4. Notify your employees, customers, landlord, government entities, etc.
  5. Settle and close all accounts, bank accounts, and pay up all your debts, and then distribute all assets as per the agreement.

To ensure you’re upholding your legal obligations for both joining and leaving a partnership, it’s a good idea to consult with an experienced business attorney. An attorney will help you navigate your way through any specific rules for start-up and dissolution.

The Law 4 Small Business Difference

CLIENT FIRST

We take client satisfaction seriously. We are not in the business of up-selling or pushing services that won’t help you. We work as your partner to get the job you expect done.

SOLUTIONS FOR
LONG
TERM SUCCESS

L4SB is your long-term partner to help you and your business with the inevitable ups-and-downs, and everything in between.

FLAT-FEES,
NO KIDDING

We’re business lawyers, and we understand many small- and medium-sized businesses struggle just to meet payroll, let alone pay for legal services. That’s why we offer a range of flat-rate services, and reasonable hourly rates for everything else.

REAL LAWYERS REAL ADVICE

With over 200 years of combined business law experience, you can count on getting sound advice and solid representation.

Join Or Leave A Partnership

Let an experienced business attorney from L4SB help you manage a Partnership.

Contact Us Today