Relationships can deteriorate rapidly when problems arise in a business partnership. If a partner needs to withdraw or dissolve a partnership, it is necessary to carefully handle the situation. Otherwise, the legal implications of acting impulsively and without sound advice can have massive financial consequences on the involved partners and the partnership as a whole.
Responsibilities of a Partner
You have a fiduciary duty to the partnership and your fellow partners. As such, you need to consult with an experienced attorney so that you may be apprised of your legal responsibilities for permissible withdrawal. You must legally act with a level of care and loyalty owed to your partners. Failing to do so can expose the partnership to severe consequences, including mandatory dissolution.
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Our attorneys can provide the right advice for your specific situation, so that you can make the most effective arrangements to end your partnership dispute. Call our firm today.
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