What to do if I am in a partnership with 3 partners and 2 of us want the other partner to leave?
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What to do if I am in a partnership with 3 partners and 2 of us want the other partner to leave?
Our business name needs to be changed due to a service mark issue. We are planning to regoup and start the same business under a new name. However we would like to ask one of the partners to step away from the business so that 2 of us would like to start the new business on our own. Unfortunately our partnership agreement only allows for someone to leave, not for someone to be asked to leave.
Asked on May 16, 2013 under Business Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Given the situation that you have written about you either have the one partner voluntarily resign in writing or you will be required to retain a business attorney to dissolve the partnership and then start anew. You can find a business attorney in your locality through attorneypages.com.
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