If I’m co owner of a corporation and we have a partnership agreement, do I do a dissolution or buyout?

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If I’m co owner of a corporation and we have a partnership agreement, do I do a dissolution or buyout?

Asked on September 4, 2013 under Business Law, Florida

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

You could do both depending on the agreements involved.  You would want to dissolve the partnership so that you are no longer liable but a buy out could trigger that under the agreement anyway.  I am assuming here that you want to be bought out of the business, correct?  Bring the paperwork to an attorney to review and let you know the best way to protect yourself in the long run.  Good luck.


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