Business
Business Partnership Dissolution
Partnership termination agreement defining asset distribution, debt allocation, client transitions, and post-dissolution obligations when business partners decide to end their collaborative relationship permanently.
Key Clauses
1
Dissolution Date
Establishes the effective date and timeline for winding down operations.
2
Asset Distribution
Details how partnership assets will be valued, divided, or liquidated.
3
Debt Allocation
Assigns responsibility for outstanding debts, liabilities, and obligations.
4
Client and Contract Transition
Defines how existing clients and contracts will be transferred or terminated.
5
Non-Solicitation Terms
Restricts former partners from soliciting shared clients or employees post-dissolution.
Use This Template
When You Need This
- Business partners mutually agree to end their partnership
- One partner is retiring or leaving and the business must be wound down
- Partners disagree on business direction and need an orderly separation
- Dividing partnership assets and liabilities after deciding to close the business