Legal Question in Business Law in California

My first question to you would be, how much business has this corporation done? If it has little or no assets or liabilities, one alternative is to do nothing....,, and in a couple of years the state will terminate its existence. If this seems too risky, as a 50% owner you probably have the power and authority to file for dissolution, and the forms and steps are on the Secretary of State Website or can be found in self help law books on California corporations. Be aware that corporations that have done business will usually have other obligations to consider along with just terminating the corporate existence, such as creditors, tax liability, physical assets, and maybe employees, all requiring separate actions. The corporate termination form asks about these matters, if I recall.