Hi thanks for your question. My name isXXXXX can answer this for you.
Unfortunately, without a partnership agreement as to who can expel a partner, it is simply not possible to force one partner to leave the partnership.
So if we can't now work together do we split the business in two? The company is a letting agency.
Neither of you have the right to the business at the expense of the other. If you can't agree, then the only thing to do is close it all down and start again.
This is what a court would do if the aggreived partner issued court proceedings.
I think closing down the business and starting again would decimate the business, there is a lot of competition locally that would mop up our customers.
Yes, this is why it's essential that you try and agree something otherwise you both stand to lose out.
You could sell the business, as an option, and split the cash, or try and make sure you both get on with each other. The alternative, closing down the business, isn't good obviously.
How do we decide who gets to keep the name and web site, the office and the staff? Is this just about negotiation?
Yes, it is, otherwise a court would compel you to cease the business and let the staff go, the office lease/tenacy expire/end etc.
Ok, not good news. If we can't agree between us would you recommend engaging a solicitor to mediate?
Yes, it's worth getting a solicitor involved because it's sensible for you both to know the effects of what's being proposed immediately and yes, they can then hopefully mediate a resolution for you.
Thank you for your advice Tony, I think another sleepless night is in store and a heated meeting Monday morning.
Sorry it's not better news!
This is why it's always crucial to get a proper partnership agreement drawn up.
Is there anything else you would like me to clarify for you?
I don't think so, but I may get back to you after the meeting Monday morning. Thank you.
Yes, you can come back to me anytime. No problem at all.