What You Should Know About Dissolving a Partnership
A partnership can be formed either on a short-term or long-term basis. Sometimes, a company needs to be dissolved if the project has already concluded or when one of the partners no longer wants to take part in the operation of the business. When this happens, it is mandatory for both parties involved to terminate their partnership business agreement. Partnership dissolution can either be done through a court decree, via the operation of the law or by an act of the partners involved. Here’s how partners can go about it: Set a Definite Time Frame to Dissolve the Partnership as Partners In some cases, partners indicate the length of their partnership in their initial agreement. For example, the partners can … Read more