Many Californians choose to set up their business operations as a partnership. A partnership offers many benefits for the founders. It can be an excellent way to create a sustainable, successful and profitable business. Of course, a partnership will only be able to maximize its potential if the partners are able to work together. If a serious intra-partnership dispute arises, it could potentially destroy the business. It is critical that business partners take proactive steps to prevent disputes. Further, when one does occur, business partners need to know how to protect the legal rights and financial interests of both themselves and their business.
Everything eventually comes to an end. For a business partnership, that end can come because of a dispute, a retirement, a death or simply because the partners wish to re-form their business as a limited liability corporation. Regardless, business partners need legal representation to ensure that their rights and financial interests are protected throughout the dissolution process. If you are in the process of dissolving a partnership in the Bay Area, please contact an experienced partnership dissolution attorney to learn more about your legal rights and obligations.
When you decide to go into business with someone, you think about many things. It is great to have a partner, as two heads are better than one. Also, it is a much more exciting endeavor when you are working with a friend, and sometimes having a partner can also lead to an exponential increase in profits. This type of business arrangement, working with a friend or close acquaintance, is common in many businesses today.