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How to Determine a Selling Price for a Business
Advertising a Business for Sale
Closing on a Business
Selling Part of a Business
Selling a Business Online
Dissolving a Business Partnership
Selling Your Small Business
How to Close a Sole Proprietorship
How to Do a Bulk Asset Sale
Transferring a Business Title
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Summary: Dissolving a business partnership often gets ugly unless the business partners had a plan for dissolution in place early on. Learn how to dissolve a business partnership from a business broker in this free video on business.
Robert Nizza consults with business owners to prepare them for the sale of their businesses. The process includes offering an opinion of value, finding buyers and guiding the...read more
"Hello, I'm Robert Nizza, with the BTI Group, in San Francisco. I'd like to talk to you about dissolving a business partnership. Most dissolutions of business partnerships that I've heard of, and maybe that you've heard of, usually turn out sort of ugly. Why is that? It's because people don't, the partners don't agree on a plan, before they start the business. This is what I've seen. In fact, when I help people to buy and sell businesses, especially buying a business, and if there's more than one person. I usually strongly suggest that the partnership has their agreement in place, before they look to either start a business, or buy a business. There are probably half a dozen things, that go in to the partnership agreement, so that when you need to dissolve the agreement, down the road years later, everything is clear,and already agreed upon, so my best advice at the very beginning, is to have an agreement, before you have a business venture, so how much money partner A is going to invest, compared to partner B. What are the voting rights for each partner? What if one partner wants to buy the other partner out, after such and such a time? How much time should that be? How will that part of the business be valued, at that point? Have all those things done, before you even get into business, because if you don't, the dissolution of the partnership, is usually very ugly. People go on what they said months ago. The other partner doesn't remember what they said, or doesn't want to remember what they said, so it can be a nightmare, plain and simple, so before you go into business with your best friend, or your relative, or anybody, make sure that you have a partnership agreement, to avoid any pitfalls, at the end of the business."
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