Dissolving a Business Partnership

Dissolving a business partnership can be painful, both emotionally and financially, especially if you are dissolving an unprofitable venture and one in which you have invested a great deal of time, money and effort.

The key is to remain as detached as possible during these difficulties and remember you are doing what are doing to improve your own situation. A business relationship with another person is a close and personal one, a relationship developed over a given time in which you learn the other persons weaknesses and strengths. At the moment you decide to start termination proceedings, that relationship changes forever.

The end of a business association can be as painful as divorce and is similar in so many ways. There are other colleagues to consider and sometimes loyalties must be tested in ways that are decidedly unfair to all the parties involved. Finances must be split and company assets divided, fairly or otherwise, so that each partner may salvage something from the wreckage.

Such processes might spark resentments on both sides and it is rare in such instances for friendship to survive the shut down of business activities, especially if the company is a small concern. It is such a pity that business partners, when they begin their venture do not, in most cases, sign a pre-termination agreement to ensure their personal relationship weathers the storm in the event of having to cease trading. Rather like the commercial version of a pre-nuptial contract!

The trick is to stay calm, focused and determined to be as fair as possible to all parties concerned. Then, walk away and wait for the sun to come out as it always does.

Jan Gamm writes reflections on life with an emphasis on world travel. She has lived in many countries and traveled extensively in the Far East, the Middle East, America, South America and throughout the South Pacific. She writes for fun and for money whenever she can manage it.

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