Partnership gone bad

[jebek]

What is the name of your state? PA

I have had an event planning business for 7 yrs and I now have to quit. How do my partner and myself work out an agreement to end my part? She wants to continue on and keep the business running. How do we determine what value my 7 years has? It has become unpleasant and I am trying to keep this amicable.What is the name of your state?

 

[clueless3]

How do my partner and myself work out an agreement to end my part? How do we determine what value my 7 years has? It has become unpleasant and I am trying to keep this amicable.What is the name of your state?

Too bad you two did not have a Partnership Agreement when you started out (a lesson learned). Now, the easiest and cheapest way is the old-fashioned way: sit down and negotiate. Otherwise, court costs and lawyer fees would eat up everything. Basically, your work in the past 7 years helps build up a customer base and a reputation for the business, whose value cannot be easily determined.

Some things to consider:

* If you have to "SELL" the business (which can be hard for this particular business) then how much is it worth right now? (for the customer base and all)
* If you have to DISSOLVE the partnership and your partner has to start from scratch, how much would it cost her to start? (to build up the customer base and all)