These individuals or entities may include shareholders, investors, silent partners or limited interest partners. Even those who may have been involved in the voting process should receive formal notification. Notify interested people and parties as appropriate. In California, it is important to do the following at a minimum:įormalize the decision to dissolve by bringing the matter to a formal vote and put it in writing. While each type of business entity must follow slightly different steps to close its doors, the path to dissolution is similar in many ways. Many times, however, business entities run their course and it becomes obvious it is time to move on.
A lack of communication is often the root of many disputes and partners, fellow officers and shareholders may wish to first assess whether an actual disagreement exists. While there are numerous and varied reasons for corporate or partnership disputes, business entities should first seek to resolve their disagreements, if possible. Citing different visions for use of the trade name, one of the two partners will continue to use the Cuties name and the other will market the easy-peel fruit under another. The business dissolution comes after a dispute over the Cuties trademark, a name that has become synonymous with the popular mandarin fruit. Partnership that owns Cuties brand California Clementine name dissolvingĪ long-term partnership between two major citrus-growing companies in California is ending this year.
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