I was recently asked by a reporter what my advice would be to entrepreneurs regarding the dissolution of a partnership. I stated that the best thing a group of entrepreneurs can do to deal with a partnership breakup or dissolution is to agree to the steps that will be taken and the format of the dissolution long before things get acrimonious or go otherwise go downhill. A good attorney will include a section detailing such steps in any LLC or partnership agreement at the beginning of the venture. Agreeing to what will happen upon the breakup of the partnership before things get ugly not only will save the partnership legal fees upon dissolution, but also guarantees that the partners all have clarity on what the results of the dissolution will be, often making the breakup less likely to happen in the first place.
The Minton Law Group is very pleased to announce that Peter Minton has been selected to join the Young Entrepreneurs Council. He is very excited at the possibilities opened by joining this group of inspiring and aspiring entrepreneurs, and looks forward to working with them towards mutual success.
If you want to learn more about the Young Entrepreneurs Council, please click here.