aharper2000
New Member
I am a physician in GA and I started a Medical Spa with another physician to provide anti-aging services (botox, liposuction, mesotheraphy, etc.) to patients in metro atlanta. Unfortunately, we entered into this partnership without signing a legally binding agreement. This was a friend that i trusted and we never got around to signing the agreement after we started the business. The reason that we never got around to signing the contract was because we got so busy in running the practice and things were goinng so well initially that it got lost in running the business.
However, after 9+ months our relationship has gone south and we are now planning to dissolve the partnership. In planning to dissolve the practice, I am having my partner buy my share of the practice to include the valuation for assets, current and future patients, building improvements, equipment, and liabilities. I have a few questions concerning the dissolution of the patnership:
1. How do you legally dissolve a partnership that was never bound by a legal document(agreement)? What are the implications of not having a legal agreement?
2. Since we did not sign a partnership agreement, who has the right to the name the we mutually agreed upon for our partnership? Once she buys me out, does she have sole rights to the name or can I still utilize the company name?
3. Legally, what is the best way to get out of this mess?
Thanks.
However, after 9+ months our relationship has gone south and we are now planning to dissolve the partnership. In planning to dissolve the practice, I am having my partner buy my share of the practice to include the valuation for assets, current and future patients, building improvements, equipment, and liabilities. I have a few questions concerning the dissolution of the patnership:
1. How do you legally dissolve a partnership that was never bound by a legal document(agreement)? What are the implications of not having a legal agreement?
2. Since we did not sign a partnership agreement, who has the right to the name the we mutually agreed upon for our partnership? Once she buys me out, does she have sole rights to the name or can I still utilize the company name?
3. Legally, what is the best way to get out of this mess?
Thanks.