What to do if I own a company that I opened with my business “partner” and now, after 3 months, want to end the relationship?

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What to do if I own a company that I opened with my business “partner” and now, after 3 months, want to end the relationship?

I am feeling that it is not a healthy business relationship but the company is doing very well. Her name is not on any aspect of the business. The office, bank account, online store, and every tax document are all in my name. She also did not come in with any money and I came in with loans from my family and money from my personal savings. I plan to have the discussion with her that it simply is not working tomorrow and expect her to be angry. My question is this…does she have any grounds for legal recourse?

Asked on May 12, 2014 under Business Law, California

Answers:

Shawn Jackson / The Jackson Law Firm, P.C.

Answered 7 years ago | Contributor

Do you have a written partnership agreement? If so, that document will control the initial steps in the process. If there is no written partnership agreement, then you will want to briefly discuss with your partner the possibilities of a mediation process to help resolve the issues...then go from there.

Shawn Jackson California Business Attorney


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