Orlando, FL asked in Business Law for Florida

Q: My business partner wants to retire and shut down our business.

I'm not ready to retire and would like to keep the business going for a bit longer. We can't come to an agreement on this. What should we do?

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1 Lawyer Answer
Andrea Wheeler
Andrea Wheeler
  • Melbourne
  • Licensed in Florida

A: There are a lot of fact specific issues that just be known before answering this question. What type of business entity do you have? Depending on the type of entity, do you have an operating agreement or buy sell agreement in place that specifies the steps needed to be taken for this type of transition? What terms are not agreeable to your partner? You really need to speak with a business attorney to give more facts so that you can get advice for your particular situation.

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