Legal Question in Business Law in Ohio

Dissolving a partnership

I've been involved in an LLC Partnership for the last 4 years. I'm now having some personal issues with my business partner, and would like to end the partnership. I would like to remain in the same business, and retain our most prominent client. Are there any issues I should be aware of? What is the easiest way to get out of a partnership?


Asked on 5/10/06, 11:27 am

2 Answers from Attorneys
Joseph Jacobs Jacobs & Lowder

Re: Dissolving a partnership

If you truly are in a partnership, then it must be dissolved by law if you leave. If it is a company LLC then you can write an ending to it if you agree on all these other issues.

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Answered on 6/06/06, 4:14 pm
Gregg Manes Gregg A. Manes, Esq.

Re: Dissolving a partnership

First of all the operating agreement should state what should happen in the case of the dissolution of the LLC. There is no problem remaining in the same business as long as there is not a covenant not to compete. As far as taking the customers that should be spelled out in the agreement terminating the LLC.

Good Luck!!!!

Gregg Manes

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Answered on 5/13/06, 10:19 am


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