Dissolution of Partnerships
When a business venture has run its course or the partners and major stakeholders must part ways, special care and attention must be paid to how the partnership is dissolved or exited. Mistakes or oversight can cost both partners significantly.
At Chenoweth Law Group in Portland, our lawyers provide practical legal solutions and strategies for dissolving partnerships and corporations, protecting the long-term interests of our clients. Our attorneys assist in the valuation of the business and the correct allocation of assets and liabilities to both partners and other major stakeholders.
Solutions to Help Partners Part Ways, Protecting the Financial Interests of the Partners
While partnerships can technically be dissolved through a few forms and paperwork, it is rarely that simple. A hasty dissolution can put one or both partners at risk. It is critical that you seek skilled legal guidance during this process to ensure that you realize the remaining value you are entitled to, as well as protect yourself from lingering debts and liabilities.
Many dissolutions are the result of partnership disputes, ranging from suspicion of illegal or unethical behavior to disagreements over how the business should be run. We provide skilled negotiation through direct communications or using mediation to prevent the emotion and friction of these conflicts from standing in the way of an efficient dissolution.
As a premier commercial litigation firm, our attorneys know the cost of taking these disputes to court. We work diligently to resolve our clients’ disputes through settlement negotiations and other forms of alternative dispute resolution. Settling these conflicts outside of the courtroom saves our clients valuable time, money, and stress. If your case has to go to court, we will be ready, but we will work for an efficient, amicable resolution first.
Our firm also assists in the dissolution of partnerships where there is a lack of formal partnership agreement or contracts. When there is a written agreement, but the partners disagree over the terms, our lawyers use the tools of advocacy and laws related to contract interpretation to create as much value for our clients as possible. These breakups can be complex, requiring experienced representation to correctly determine how company assets and liabilities should be divided between the partners. We provide creative problem solving to effectively resolve disputes surrounding partnership dissolutions.