Claim of co-ownership by firm after winding up of a company


I have recently started a new company of my own, and in the intial days I was in a partnership with a Brokerage firm. Although we never really gave any profit or loss to each other or shared anything, for namesake we were partners. Now everything has ended but I just want to know, if even in future, the firm can claim co-ownership or their rights on my company?

Answers (3)


190 votes

The ability of the brokerage firm to claim ownership would depend on the nature of the obligations and performance of duties undertaken by them. Therefore, a study of the memorandum and articles of association is imperative. Specifically, one must keep in mind whether a covenant existed wherein any financial or moral rights have been transferred as they can be used to interfere with peaceful possession and function of the company.


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240 votes

Hi
I m not clear to me for reply, wether your partnership firm is registered, under the partnership act. If it registered you have to opet for retirement and Deed of Reconstitution of firm, has to be made. Then your so called partner, can not claim.

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138 votes

first we need to know is there any partnership deed between you both and if it is there is it registered and have you changed the name of the firm , if it was registered then you need to go for dissolution deed if it not registered then you can discuss each other and it can be dissolved.

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