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How to Dissolve a Partnership in Colorado?

Customer Question
How do i dissolve a...
How do i dissolve a 2 person partnership in Colorado if the other party does not want to dissolve. Other party did not contribute any initial or additional capital or assets besides personal services which were compensated by a salary.
Submitted: 4 years ago.Category: Business Law
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Answered in 10 minutes by:
10/1/2013
Business Lawyer: Dimitry K., Esq., Attorney replied 4 years ago
Dimitry K., Esq.
Category: Business Law
Satisfied Customers: 41,221
Experience: Run my own successful business/contract law practice.
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Thank you for your question. Please permit me to assist you with your concerns.

What you are describing is ultimately going to potentially take litigation. You would need to properly evaluate the cost of the business, and figure out the actual value. This may require you to retain accountants, likely business accountants who can estimate the value of the business by calculating assets, debts, accounts receivable, and value of future benefits, projects, or good will. Then you would need to retain a corporate counsel to file suit in court for a formal request to 'partition' the business between the parties OR issue a right to sell the business so as to split the value of the sale between the parties in proportion to their interest. The written agreement you have can be the basis for the suit, if the other party is refusing to split losses, and permit you to separately file for breach of contract or for breach of fiduciary duty against the other owner in this instance.

Hope that helps.

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