When you decide to go out of business, locking the doors and simply walking away does not end the existence of an entity. Generally speaking, formal processes must be followed to properly dissolve a business, whether it is a corporation or a partnership.

Moreover, if business partners wish to separate, there are also legal requirements to correctly end the partnership agreement. Failure to comply with proper dissolution or separation procedures could lead to dire consequences, such as later discovering that you, as the business owner, are personally liable for a business expense or obligation for a company you thought you had abandoned.

It is important to make certain you are not leaving yourself vulnerable to unexpected liability when you exit a business. The attorneys at Meriwether & Tharp LLC can help you dissolve your business properly. For legal help in your business dissolution and/or breakups, call 678-879-9000 to arrange an appointment with one of our experienced business law attorneys.