Partnership Problems

[Leann in TN]

My partner and I co-own a business 50/50. My partner has not been performing to his potential. So far, I have made all the sales and performed 80% of the work. Our partnership agreement is very short and simple. It states that we each put in half the money and will split half the profits. If one is competent, the agreement can be broken and all assets must be divided. I need advise on how to handle this situation.

 

[ALawyer]

Either party is generally able to end the partnership.

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