The dissolution of a business entity may be required when major shareholders or business partners can no longer do business together.
The experienced business attorneys at MC Attorneys assist our clients with the negotiation of a buy-out or dissolution of a joint venture business.
Partnership Dissolution or a “Business Divorce”
In many ways, a business dissolution is a “business divorce,” where the partners divvy up the assets and debts and strike out on their own separate paths.
There are voluntary or involuntary partnership dissolutions. A voluntary dissolution is one in which the partners and/or shareholders mutually agree to dissolve the business. in contrast, when business partners do not agree on the terms of dissolution, it is deemed to be involuntary, and one partner may file suit to dissolve the business entity.
Let us Guide You Through the Process
There are numerous details involved with a business dissolution that must be handled with care and attention to detail. They include items like client notification, division of assets and liabilities, assignment of responsibilities for ongoing work, and drafting non-compete agreements. The attorneys at MC Attorneys will guide you through all aspects of this process and provide you with knowledgeable and skilled counsel.
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Before you agree to a business divorce or the dissolution of your business, you must develop a comprehensive exit strategy that shields you from continuing liability and resolves any on-going business issues with minimal financial and emotional impact.