Split up with your business partner
We will help you dissolve your partnership or buy out your co-owner in a way that is fair, legally sound, and protects your position after the separation.
What is involved in dissolving a partnership or separating from a co-owner?
A partnership is a legal relationship in which two or more persons carry on a business in common with a view to profit. Where no partnership deed exists, partner rights are governed by the Partnership Act applicable in the relevant state or territory. On dissolution, assets are realised, liabilities discharged, and any surplus distributed to partners according to their interests. Where one partner wishes to continue the business, a buy-out arrangement is typically negotiated — and agreeing on value is where most disputes arise.
What happens to partnership assets when a partnership dissolves?
How do we agree on a value for the business if one partner is buying out the other?
Agreeing on the departing partner’s value is often the most contested part of a dissolution. The parties may agree on a methodology or appoint an independent expert to determine value. We advise on methodology and help the parties reach an agreed position.
Am I personally liable for the debts of the partnership?
What documentation is required to formally dissolve a partnership?
A clear structure for separating from your partner.
Valuation and negotiation support.
Documentation that properly concludes the relationship.
Separating from a business partner involves more than agreeing to go your separate ways.
Without a clear agreement, a partnership dissolution can drag on and damage both parties.
- We will advise on the options for dissolving the partnership or structuring a buy-out of one partner's interest.
- We will advise on valuation methodology and help the parties reach an agreed position.
- We will advise on each partner's liability for partnership debts.
- We will prepare the dissolution or buy-out agreement and all associated documentation.
You have decided to separate from your business partner and you need a clear path forward.
What's included in your partnership dissolution service
- Advice on dissolution options (wind-up vs. buy-out).
- Partnership deed review and rights analysis.
- Valuation methodology advice and negotiation support.
- Partner liability advice in respect of existing partnership debts.
- Dissolution or buy-out agreement preparation and negotiation.
- Third-party notifications and releases.
- Asset transfer documentation.
What happens when a partnership dissolution is handled without proper structure?
Partnership dissolutions handled without proper advice regularly produce worse outcomes for both parties. Without a clear valuation methodology, each party’s adviser produces a different figure and the gap becomes the subject of prolonged dispute. Without a clear liability allocation, a creditor may pursue either partner personally for the full amount. Without a properly drafted dissolution agreement, the legal relationship continues.
Here is how we structure your separation so both parties can move on.
Structure agreed, valuation settled, legal relationship properly concluded.
Assess the position.
We review the partnership deed (if any), advise on each partner's rights and obligations, and recommend the dissolution or buy-out structure that best suits the circumstances of the separation.
Negotiate and agree.
We advise on valuation methodology and help the parties reach an agreed position on the value of the shared assets, the allocation of liabilities, and the key terms of the separation.
Document and conclude.
We prepare the dissolution or buy-out agreement, manage the asset transfer and liability allocation documentation, and confirm that the legal relationship between the partners is properly concluded.
Commercial lawyers experienced in partnership dissolutions and business co-owner separations of all kinds.
We have helped business owners navigate partnership separations in all kinds of circumstances. We understand that these matters involve personal as well as commercial considerations, and that pressure for a quick resolution can lead to outcomes that are not in either party’s long-term interest.
We understand you want to know the cost, before we get started.
We will map out our process, from beginning to end, so you know what the journey will look like before you get started.
We will provide you with a clear and detailed Work Proposal covering each step along the way.
Our fair fees are all-inclusive. No hidden costs for telephone calls, emails, photocopying, couriers, or coffee.
Our great lawyer guarantee
We want to be part of your team over the long term. We achieve this by adhering to these core principles:
Take the time
We listen carefully to understand what you want to achieve. Then we thoroughly explain our advice and step you through the documents. You can be sure you know the full consequences.
Share our knowledge
We will pass on as much knowledge as we can, so you can make your own informed decisions. We want to make you truly independent.
Stick to our knitting
We only do what we're good at. You can be confident that we know what we're doing and don't pass on the cost of our learning.
Work as one team
Someone will always be available to answer your questions, or point you in the right direction. You will also benefit from a range of perspectives and experience.
Fair pricing
For advice and documents, we provide a fixed or capped quote so you don't take price risk. If you're in a dispute, we map out the process and costs so you know what to expect.
It's your show
We're not in this for our egos. We're in it for a front row seat to witness your success.
