How can I dissolve my business?

Some of the best ideas are those that evolve over time. Even the biggest, most successful companies out there are continually searching for the next big thing to keep them relevant. Just think: If Apple had been satisfied with its computer business, people everywhere might still be pushing actual buttons on their cell phones!

While innovation and forward thinking are key to a company’s continued success, they can also be the source of dispute amongst a business’s owners if the owners are all looking forward toward different goals. For example, maybe your company that has specialized in print advertising for many successful years is now searching for its next big opportunity. While you see a bright future in expanding to meet all of your clients’ online advertising needs, your business partner might be thinking that narrowing your client base and becoming the exclusive print ad supplier for a few large accounts is the way to go.

Sometimes, a short negotiation or mediation session is all you need to resolve a partnership dispute. The result may be that you and your partner compromise and agree to keep your business going. On the other hand, you may decide that the best option is for each of you to go your separate ways. If the result is a business dissolution, it is crucial for you and your partner to agree on how to divide your assets and whether there will be any restrictions on what kind of work each of you can do and for which customers in the future.

If your relationship with your business partner has reached the point that mutual agreement seems unlikely, you may need to pursue other legal options to break up your business. A business litigation attorney can help you understand both how to dissolve your business and the legal consequences for you and your partner going forward. Whether your business dissolution is amicable or not, there are ways that an attorney’s conscientious negotiation and advocacy can help you make it into a positive step toward achieving your goals.

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