How To End An Online Home Business Partnership Amicably

Over the past 15-20 years the internet has become the hottest way for consumers to purchase their goods and services. With that said, you will find various online business partnerships that consist of jointly owned web site businesses.

When two or more individuals partner up to run a business online, it is important to have legal and binding contracts between all parties involved. This contract should detail all costs involved, who is responsible for what and it should list out what will happen if one partner decides to leave the business.

When one of the parties decides to leave the partnership, they should give written notice to the other parties involved. This written notice should include your reason for leaving the partnership, what you expect from the business from now until your end date (if it is not in the legally binding contract) as well as any other details that pertain to the business. The notice should be given to all of the parties involved several weeks in advance (if not 2-3 months, depending on the type of business arrangement), so that the partners have sufficient time to adjust to the change and make any necessary new arrangements.

It is very important that once an online business partnership has ended that all parties remain civil to one another. Over the years...I have seen many new ventures come and go and when these partnerships break up on bad terms, things online can end up getting really ugly. When it gets out of control it reflects badly on all parties involved. One way to keep it under control is to have a clause put into your business contracts where none of the parties can disclose publicly the reason for the breakup. Having this important clause in your contracts will save you a lot of grief down the road should any of the partners who were involved in the arrangement decides to gossip or slander the business or individuals involved.

When partnerships break up...it is important to do it legally and civilly. There is no need to be cut throat about it when legally binding contracts are in place. Take your time when making your decision, follow the guidelines of your contracts or the advice of your attorney. The most important thing to remember is that when it ends badly...keep the 'dirt' out of the public eyes.

Article Source: http://www.wahm-articles.com

Shelly Hill has been successfully working from home since 1989 and has owned or co-owned numerous online businesses over the years. Shelly is the owner of the Work At Home Business Options Web Site at www.workathomebusinessoptions.com where you can pick up free business articles, resources and home business tips. You can visit Shelly's online Ghostwriting Business at www.twoclassyghostwritingchics.com to see the ghostwriting services that Shelly has to offer.

Print This Article Comment on Article Email to Friends Ezine Ready

Please Rate this Article

5 out of 54 out of 53 out of 52 out of 51 out of 5 

Not yet Rated