Legal Question in Business Law in Michigan
The name of the business & staying until we sell
My partner and I wish to disolve our partnership against my will. She has given me the option of A. She takes the Business and all the debt and I walk away or B. I take the business and all of the debt & she walks away, what if I want niether of us to get the business and want to sell it and divide the debt can I do such a thing or if I do walk away and still wish to do the same type of business can I make it so niether of us is allowed to used the present name of the company???
1 Answer from Attorneys
Re: The name of the business & staying until we sell
It depends what type of entity it is and whether or not you have some sort of operating agreement. If there is no agreement you could hire an attorney and file a complaint for dissolution.
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