Legal Question in Business Law in Ohio
Getting Rid of Dead Weight.
I entered into a partnership with a couple of gentlemen a few years back and started off the buisness. At first they were alot of help and we split the profits equally 3 ways.
due to a turn of events they no longer properly preform their duties and I am leaving to go totally out on my own. My question is what responsablites do I have to the company. There is some money in the accounts some taxes to be paid etc. they may try to keep it going but I want my name off the company I want my share of whats left so they dont squander it the rest of the year and leave me with 1/3 of the tax bill. where should I go from here.
1 Answer from Attorneys
Re: Getting Rid of Dead Weight.
Ohio's Uniform Partnership Act provides a solution for terminating a partnership. It is important that you follow the statutory requirements to protect yourself from partnership debts in the future, as well as allowing you to legally start a business that competes with the partnership. I strongly recommend that you find an attorney who is well versed in business law, and pay to have this handled properly.
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