Legal Question in Business Law in Washington

Re: Partnership withdrawl

Partnerships are like marriages in a lot of ways, and one way they resemble each other is that you cannot walk away from either one without going through a formal process.

Much depends on what your partnership agreement says, if you have one, and what the circumstances of your withdrawal are. Does the other partner (or partners) agree that you should leave? Are you being forced out? Is the partnership business profitable or operating at a loss right now? If you have a partnership agreement, does it permit withdrawal? Is this really a "partnership" in the legal sense, or is this actually a formalized entity such as a corporation or an LLC?

Your rights, and the ramifications of your withdrawal from the partnership will vary depending upon the particulars of your case. You might be entitled to all of the things you mention in your post, or you might be entitled to nothing at all, or worse, responsible for some of the partnership's debt. Some matters can be dealt with by self help, but I would urge you to at least consult with an attorney to learn what your rights are. Be prepared to show the attorney any buy/sell agreements, partnership agreements or similar documents you may have.