{"id":224331,"date":"2023-07-28T14:52:34","date_gmt":"2023-07-28T01:52:34","guid":{"rendered":"https:\/\/legalvision.co.nz\/?p=224331"},"modified":"2023-08-10T19:42:56","modified_gmt":"2023-08-10T06:42:56","slug":"how-to-sell-a-partnership","status":"publish","type":"post","link":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/","title":{"rendered":"How To Sell a Partnership"},"content":{"rendered":"\n<p>As a partner in a business, you would know that <a href=\"https:\/\/legalvision.co.nz\/business-structures\/starting-new-partnership\/\">running a partnership<\/a> can be a great way to grow and manage your business. A partnership involves two or more people working together to make decisions to progress the business. Selling a partnership involves many steps, including agreement between partners, valuing your business and considering your assets. The process can be challenging, particularly since you need to satisfy the needs of many partners. Therefore, this article will outline the process of selling your partnership in NZ successfully.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Agreement Between Your Partners&nbsp;<\/h2>\n\n\n\n<p>The first step is ensuring all partners agree to sell. Since every partner brings a different perspective, it can be difficult to reach consensus about the business sale. Additionally, all partners should agree on:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>what assets to include in the sale;<\/li>\n\n\n\n<li>the sales process; and&nbsp;<\/li>\n\n\n\n<li>every partner\u2019s responsibility during the sale.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>It is best to arrange a meeting to discuss the sale. Meetings should be conducted in compliance with your existing partnership agreement. Additionally, you should record any decisions should in writing for future reference.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. Valuing Your Business&nbsp;<\/h2>\n\n\n\n<p>Once all partners have agreed to sell the business, you can begin calculating a sale price. To do this, it is best to conduct a business valuation. A business valuation enables you to ensure an appropriate sale price is set, which is not too high nor too low. Further, during negotiations, you can show your calculations to buyers to explain why your sale price is set at a certain level.&nbsp;<\/p>\n\n\n\n<p>You can either conduct the valuation internally or hire someone else. However, ensure that your business chooses a valuation method that bests suit your business to avoid undervaluing. Methods include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>asset valuation;<\/li>\n\n\n\n<li>income valuation; and<\/li>\n\n\n\n<li>market value approach.<\/li>\n<\/ul>\n\n\n\n\n<a href=\"#content-next\"\n   class=\"block p-4 mt-10 text-xl font-bold text-center text-white no-underline bg-gray-800 rounded-t-xl\">\n    Continue reading this article below the form\n    <i class=\"text-xl fa-regular fa-arrow-down\"><\/i>\n<\/a>\n<div class=\"px-6 pt-10 pb-12 mb-10 text-center bg-gray-100 rounded-b-xl sm:px-12 test\">\n    <div class=\"mb-8 text-2xl font-bold text-orange\">\n        Need legal advice?\n        <br>\n        <span class=\"text-lg not-prose\">\n                            Call <a href=\"tel:+64800005570\" class=\"not-prose\">0800 005 570<\/a> for urgent assistance.\n                <br>\n                Otherwise, complete this form, and we will contact you within one business day.\n                    <\/span>\n    <\/div>\n\n    \n\n<div class=\"not-prose flex justify-center text-left gform_input_bg_white    \">\n    <script>\nvar gform;gform||(document.addEventListener(\"gform_main_scripts_loaded\",function(){gform.scriptsLoaded=!0}),document.addEventListener(\"gform\/theme\/scripts_loaded\",function(){gform.themeScriptsLoaded=!0}),window.addEventListener(\"DOMContentLoaded\",function(){gform.domLoaded=!0}),gform={domLoaded:!1,scriptsLoaded:!1,themeScriptsLoaded:!1,isFormEditor:()=>\"function\"==typeof InitializeEditor,callIfLoaded:function(o){return!(!gform.domLoaded||!gform.scriptsLoaded||!gform.themeScriptsLoaded&&!gform.isFormEditor()||(gform.isFormEditor()&&console.warn(\"The use of gform.initializeOnLoaded() is deprecated in the form editor context and will be removed in Gravity Forms 3.1.\"),o(),0))},initializeOnLoaded:function(o){gform.callIfLoaded(o)||(document.addEventListener(\"gform_main_scripts_loaded\",()=>{gform.scriptsLoaded=!0,gform.callIfLoaded(o)}),document.addEventListener(\"gform\/theme\/scripts_loaded\",()=>{gform.themeScriptsLoaded=!0,gform.callIfLoaded(o)}),window.addEventListener(\"DOMContentLoaded\",()=>{gform.domLoaded=!0,gform.callIfLoaded(o)}))},hooks:{action:{},filter:{}},addAction:function(o,r,e,t){gform.addHook(\"action\",o,r,e,t)},addFilter:function(o,r,e,t){gform.addHook(\"filter\",o,r,e,t)},doAction:function(o){gform.doHook(\"action\",o,arguments)},applyFilters:function(o){return gform.doHook(\"filter\",o,arguments)},removeAction:function(o,r){gform.removeHook(\"action\",o,r)},removeFilter:function(o,r,e){gform.removeHook(\"filter\",o,r,e)},addHook:function(o,r,e,t,n){null==gform.hooks[o][r]&&(gform.hooks[o][r]=[]);var d=gform.hooks[o][r];null==n&&(n=r+\"_\"+d.length),gform.hooks[o][r].push({tag:n,callable:e,priority:t=null==t?10:t})},doHook:function(r,o,e){var t;if(e=Array.prototype.slice.call(e,1),null!=gform.hooks[r][o]&&((o=gform.hooks[r][o]).sort(function(o,r){return o.priority-r.priority}),o.forEach(function(o){\"function\"!=typeof(t=o.callable)&&(t=window[t]),\"action\"==r?t.apply(null,e):e[0]=t.apply(null,e)})),\"filter\"==r)return e[0]},removeHook:function(o,r,t,n){var e;null!=gform.hooks[o][r]&&(e=(e=gform.hooks[o][r]).filter(function(o,r,e){return!!(null!=n&&n!=o.tag||null!=t&&t!=o.priority)}),gform.hooks[o][r]=e)}});\n<\/script>\n\n                <div class='gf_browser_gecko gform_wrapper gravity-theme gform-theme--no-framework lawyer-form_wrapper gplaceholder_wrapper form-with-labels-no-asterisks_wrapper has-new-validation-error-styling_wrapper' data-form-theme='gravity-theme' data-form-index='0' id='gform_wrapper_2452' style='display:none'><div id='gf_2452' class='gform_anchor' tabindex='-1'><\/div><form method='post' enctype='multipart\/form-data' target='gform_ajax_frame_2452' id='gform_2452' class='lawyer-form gplaceholder form-with-labels-no-asterisks has-new-validation-error-styling' action='\/api\/wp\/v2\/posts\/224331#gf_2452' data-formid='2452' novalidate>\n                        <div class='gform-body gform_body'><div id='gform_fields_2452' class='gform_fields top_label form_sublabel_below description_below validation_below'><div id=\"field_2452_15\" class=\"gfield gfield--type-honeypot gform_validation_container field_sublabel_below gfield--has-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2452_15'>URL<\/label><div class='ginput_container'><input name='input_15' id='input_2452_15' type='text' value='' autocomplete='new-password'\/><\/div><div class='gfield_description' id='gfield_description_2452_15'>This field is for validation purposes and should be left unchanged.<\/div><\/div><div id=\"field_2452_1\" class=\"gfield gfield--type-text gfield--input-type-text gf_left_half gfield--width-half gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2452_1'>First Name<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_text'><input name='input_1' id='input_2452_1' type='text' value='' class='medium'     aria-required=\"true\" aria-invalid=\"false\"   \/><\/div><\/div><div id=\"field_2452_12\" class=\"gfield gfield--type-text gfield--input-type-text gf_right_half gfield--width-half gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2452_12'>Last Name<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_text'><input name='input_12' id='input_2452_12' type='text' value='' class='medium'     aria-required=\"true\" aria-invalid=\"false\"   \/><\/div><\/div><div id=\"field_2452_2\" class=\"gfield gfield--type-email gfield--input-type-email gf_left_half gfield--width-half gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2452_2'>Email Address<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_email'>\n                            <input name='input_2' id='input_2452_2' type='email' value='' class='medium'    aria-required=\"true\" aria-invalid=\"false\"  \/>\n                        <\/div><\/div><div id=\"field_2452_3\" class=\"gfield gfield--type-phone gfield--input-type-phone gf_right_half gfield--width-half gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2452_3'>Phone<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_phone'><input name='input_3' id='input_2452_3' type='tel' value='' class='medium'   aria-required=\"true\" aria-invalid=\"false\"   \/><\/div><\/div><div id=\"field_2452_14\" class=\"gfield gfield--type-select gfield--input-type-select gfield--width-full custom-select gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2452_14'>Number of Employees in Your Business<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_select'><select name='input_14' id='input_2452_14' class='large gfield_select'    aria-required=\"true\" aria-invalid=\"false\" ><option value='' ><\/option><option value='0' >0<\/option><option value='1' >1-5<\/option><option value='6' >6-20<\/option><option value='21' >21-50<\/option><option value='51' >51-250<\/option><option value='250' >250+<\/option><\/select><\/div><\/div><div id=\"field_2452_4\" class=\"gfield gfield--type-textarea gfield--input-type-textarea gfield_contains_required field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><label class='gfield_label gform-field-label' for='input_2452_4'>Tell us about your enquiry<span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_4' id='input_2452_4' class='textarea medium'     aria-required=\"true\" aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_2452_5\" class=\"gfield gfield--type-html gfield--input-type-html gfield_html gfield_html_formatted gfield_no_follows_desc field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  >By submitting this form, you agree to receive emails from LegalVision and can unsubscribe at any time. View our <a href=\"https:\/\/legalvision.co.nz\/privacy-policy\/\" target=\"_blank\">Privacy Policy<\/a>. <\/div><div id=\"field_2452_8\" class=\"gfield gfield--type-hidden gfield--input-type-hidden gform_hidden field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><div class='ginput_container ginput_container_text'><input name='input_8' id='input_2452_8' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='http:\/\/legalvision.co.nz\/api\/wp\/v2\/posts\/224331' \/><\/div><\/div><div id=\"field_2452_13\" class=\"gfield gfield--type-hidden gfield--input-type-hidden gform_hidden field_sublabel_below gfield--no-description field_description_below field_validation_below gfield_visibility_visible\"  ><div class='ginput_container ginput_container_text'><input name='input_13' id='input_2452_13' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='generic_form' \/><\/div><\/div><\/div><\/div>\n        <div class='gform-footer gform_footer top_label'> <button type=\"submit\" id=\"gform_submit_button_2452\" class=\"gform_button button\" onclick=\"gform.submission.handleButtonClick(this);\" data-submission-type=\"submit\"><span class=\"gform_submit_button__text\">Submit Now<\/span><\/button> <input type='hidden' name='gform_ajax' value='form_id=2452&amp;title=&amp;description=&amp;tabindex=0&amp;theme=gravity-theme&amp;hash=8d907caff460821c366ed2411b0c45b3' \/>\n            <input type='hidden' class='gform_hidden' name='gform_submission_method' data-js='gform_submission_method_2452' value='iframe' \/>\n            <input type='hidden' class='gform_hidden' name='gform_theme' data-js='gform_theme_2452' id='gform_theme_2452' value='gravity-theme' \/>\n            <input type='hidden' class='gform_hidden' name='gform_style_settings' data-js='gform_style_settings_2452' id='gform_style_settings_2452' value='' \/>\n            <input type='hidden' class='gform_hidden' name='is_submit_2452' value='1' \/>\n            <input type='hidden' class='gform_hidden' name='gform_submit' value='2452' \/>\n            \n            <input type='hidden' class='gform_hidden' name='gform_currency' data-currency='AUD' value='uxjxMnMEru1a313rFJIutj\/ymV5ynsxOojApsHv2eO6o1L13CjmFiWPXEjyGvwXF5koP98b6ouaBXPUBGdUtNCEJuAAPiO0oUE3snCKsrnEcUiw=' \/>\n            <input type='hidden' class='gform_hidden' name='gform_unique_id' value='' \/>\n            <input type='hidden' class='gform_hidden' name='state_2452' value='WyJ7XCIxNFwiOltcIjIyODY0N2ViMWU3NTcxZjA4YTY4NGJmMDcwMTk3Y2I0XCIsXCJiMzk3YmQ1MDBmMmFjNjk1ODE4MzdmNTBhYTA2MzQ0OFwiLFwiNGYyNGZkZGEwMzlkNDUxMWFhZGE1NGYwZmQwZmNiZTdcIixcIjUyMmJkMDE2M2I2ZmEwOTI3NDZhZjU5YTg0ZmM1NDk5XCIsXCIzODRlNjk1YjQxMTAzMWFiYmQ2ODEyMGYyZWFhMDYyNlwiLFwiYjkzNDcwNTE2MjkxOGRjZWViMjQzNzRjNmE0NGVmNTlcIixcIjQxMTliODZhMzVjYzJiMWViNDZiMmQ4NjRlNGUzZmNjXCJdfSIsIjQ3MjNiMzA2ZDIyZGVkODA2N2YyMjYyOThkYzI1ODVmIl0=' \/>\n            <input type='hidden' autocomplete='off' class='gform_hidden' name='gform_target_page_number_2452' id='gform_target_page_number_2452' value='0' \/>\n            <input type='hidden' autocomplete='off' class='gform_hidden' name='gform_source_page_number_2452' id='gform_source_page_number_2452' value='1' \/>\n            <input type='hidden' name='gform_field_values' value='' \/>\n            \n        <\/div>\n                        <\/form>\n                        <\/div>\n\t\t                <iframe style='display:none;width:0px;height:0px;' src='about:blank' name='gform_ajax_frame_2452' id='gform_ajax_frame_2452' title='This iframe contains the logic required to handle Ajax powered Gravity Forms.'><\/iframe>\n\t\t                <script>\ngform.initializeOnLoaded( function() {gformInitSpinner( 2452, 'https:\/\/legalvision.co.nz\/wp-content\/themes\/legalv-v6\/img\/spinner.svg', true );jQuery('#gform_ajax_frame_2452').on('load',function(){var contents = jQuery(this).contents().find('*').html();var is_postback = contents.indexOf('GF_AJAX_POSTBACK') >= 0;if(!is_postback){return;}var form_content = jQuery(this).contents().find('#gform_wrapper_2452');var is_confirmation = jQuery(this).contents().find('#gform_confirmation_wrapper_2452').length > 0;var is_redirect = contents.indexOf('gformRedirect(){') >= 0;var is_form = form_content.length > 0 && ! is_redirect && ! is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){form_content.find('form').css('opacity', 0);jQuery('#gform_wrapper_2452').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_2452').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_2452').removeClass('gform_validation_error');}setTimeout( function() { \/* delay the scroll by 50 milliseconds to fix a bug in chrome *\/ jQuery(document).scrollTop(jQuery('#gform_wrapper_2452').offset().top - mt); }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_2452').val();gformInitSpinner( 2452, 'https:\/\/legalvision.co.nz\/wp-content\/themes\/legalv-v6\/img\/spinner.svg', true );jQuery(document).trigger('gform_page_loaded', [2452, current_page]);window['gf_submitting_2452'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}jQuery('#gform_wrapper_2452').replaceWith(confirmation_content);jQuery(document).scrollTop(jQuery('#gf_2452').offset().top - mt);jQuery(document).trigger('gform_confirmation_loaded', [2452]);window['gf_submitting_2452'] = false;wp.a11y.speak(jQuery('#gform_confirmation_message_2452').text());}else{jQuery('#gform_2452').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger(\"gform_pre_post_render\", [{ formId: \"2452\", currentPage: \"current_page\", abort: function() { this.preventDefault(); } }]);        if (event && event.defaultPrevented) {                return;        }        const gformWrapperDiv = document.getElementById( \"gform_wrapper_2452\" );        if ( gformWrapperDiv ) {            const visibilitySpan = document.createElement( \"span\" );            visibilitySpan.id = \"gform_visibility_test_2452\";            gformWrapperDiv.insertAdjacentElement( \"afterend\", visibilitySpan );        }        const visibilityTestDiv = document.getElementById( \"gform_visibility_test_2452\" );        let postRenderFired = false;        function triggerPostRender() {            if ( postRenderFired ) {                return;            }            postRenderFired = true;            gform.core.triggerPostRenderEvents( 2452, current_page );            if ( visibilityTestDiv ) {                visibilityTestDiv.parentNode.removeChild( visibilityTestDiv );            }        }        function debounce( func, wait, immediate ) {            var timeout;            return function() {                var context = this, args = arguments;                var later = function() {                    timeout = null;                    if ( !immediate ) func.apply( context, args );                };                var callNow = immediate && !timeout;                clearTimeout( timeout );                timeout = setTimeout( later, wait );                if ( callNow ) func.apply( context, args );            };        }        const debouncedTriggerPostRender = debounce( function() {            triggerPostRender();        }, 200 );        if ( visibilityTestDiv && visibilityTestDiv.offsetParent === null ) {            const observer = new MutationObserver( ( mutations ) => {                mutations.forEach( ( mutation ) => {                    if ( mutation.type === 'attributes' && visibilityTestDiv.offsetParent !== null ) {                        debouncedTriggerPostRender();                        observer.disconnect();                    }                });            });            observer.observe( document.body, {                attributes: true,                childList: false,                subtree: true,                attributeFilter: [ 'style', 'class' ],            });        } else {            triggerPostRender();        }    } );} );\n<\/script>\n<\/div>\n<\/div>\n<div id=\"content-next\"><!-- scroll anchor --><\/div>\n<h2 class=\"wp-block-heading\">3. Prepare For Due Diligence&nbsp;<\/h2>\n\n\n\n<p>Potential buyers will <a href=\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/due-diligence-business-sale\/\">conduct due diligence<\/a> on your business before purchasing. Put simply, due diligence is the process of investigating a business to assess its risks and benefits. Hence, your business must prepare its documentation before due diligence begins. You can acquire the help of your partners, accountant and lawyer to help review documents to ensure they are accurate and up to date.&nbsp;<\/p>\n\n\n\n<p>Documents to prepare can include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>financial statements;<\/li>\n\n\n\n<li>business contracts;<\/li>\n\n\n\n<li>legal documents;<\/li>\n\n\n\n<li>articles of incorporation;<\/li>\n\n\n\n<li>employment contracts; and<\/li>\n\n\n\n<li>property lease.<\/li>\n<\/ul>\n\n\n\n<p>After you have prepared the documents, you can upload them into a virtual data room to streamline the due diligence process.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">4. Consider What Assets&nbsp;to Sell <\/h2>\n\n\n\n<p>In your sales contract, it is essential to outline what assets the partnership will sell. Hence, it is essential to consider the partnership\u2019s:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>tangible assets, such as equipment and property;<\/li>\n\n\n\n<li>intangible assets, including goodwill and customer databases;<\/li>\n\n\n\n<li>intellectual property; and<\/li>\n\n\n\n<li>employees.<\/li>\n<\/ul>\n\n\n\n<div  class=\"box box--icon box--info\">\n    <p>When transferring intellectual property such as trade marks or patents, you must apply IPONZ. Doing this process before your contract is signed is best, as it can take time.<\/p>\n<\/div>\n\n\n\n<p>Additionally, if your buyer does not offer employment to existing employees, you must pay any redundancy packages and remaining salaries. If your buyer decides to offer employment, ensure their new employment contract begins from the settlement date.&nbsp;<\/p>\n\n\n\n<p>On the other hand, if your business does not own the property, you may need to ensure the property lease can be assigned to the buyer. You can review your lease agreement to confirm whether an assignment is possible. Otherwise, you can discuss the sale with your landlord. Your landlord may request information from your buyer to assess them as a potential tenant. After this, you can draft a deed of assignment outlining the:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>landlord\u2019s, partner\u2019s and buyer\u2019s consent;<\/li>\n\n\n\n<li>lease terms; and<\/li>\n\n\n\n<li>description of the property your partnership is assigning.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">5. Restraint of Trade&nbsp;<\/h2>\n\n\n\n<p>Some of your partners may be existing employees with the business. Hence, they may remain with the business after the sale to help with the partnership\u2019s ongoing operation. Alternatively, some partners may like to move into another competing business.&nbsp;<\/p>\n\n\n\n<p>As a result, many buyers will prefer a <a href=\"https:\/\/legalvision.co.nz\/commercial-contracts\/what-is-restraint-of-trade\/\">restraint of trade clause<\/a> in your business sale contract. This clause prevents you and your other partners from being involved in a competing business for a specific period. This assures the buyer that their recently acquired partnership will not suffer the unfair disadvantage caused by the outgoing partners taking their expertise to a competing business.&nbsp;<\/p>\n\n\n    <div class=\"my-7 lg:my-10 border-y-2 border-gray-100 py-7 lg:py-10 flex flex-col sm:flex-row items-start gap-10\">\n                    <img decoding=\"async\" class=\"w-52 mx-auto my-0! rounded\" src=\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2021\/10\/28131832\/how-to-sell-your-business-guide-_-560x792-1-e1635392481928.png\" alt=\"Front page of publication\"\n                 loading=\"lazy\" width=\"208\" height=\"298\">\n                <section>\n            <div class=\"text-2xl font-bold\">How to Sell Your Business in New Zealand<\/div>\n            <div class=\"body-text\">\n                <p>Looking to sell your business? This free guide will help you to understand the moving parts that impact a successful sale. <\/p>\n            <\/div>\n            \n\n<a href=\"https:\/\/go.legalvision.co.nz\/guide-to-selling-your-nz-business.html\" class=\" block px-5 py-3.5 max-w-fit bg-orange button__hover transition rounded text-white font-bold text-lg no-underline uppercase leading-tight text-center\" target=\"\" rel=\"\">Download Now<\/a>        <\/section>\n    <\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\">Key Takeaways&nbsp;<\/h2>\n\n\n\n<p>When selling your partnership, there are many steps to consider. These steps include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ensuring all partners agree on selling the business;<\/li>\n\n\n\n<li>choosing the correct method to value your business;&nbsp;<\/li>\n\n\n\n<li>preparing for due diligence by reviewing all essential documents;<\/li>\n\n\n\n<li>considering which assets are to be sold and how the sale may affect your employees; and<\/li>\n\n\n\n<li>understanding how a restraint of trade clause may affect you and whether you want to include one in your business sale contract.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>If you need help selling your partnership, contact our <a href=\"https:\/\/legalvision.co.nz\/business-sale-purchase-lawyers-lp\">experienced business lawyers<\/a> to assist as part of our LegalVision membership. You will have unlimited access to lawyers who can answer your questions and draft and review your documents for a low monthly fee. Call us today at <a href=\"tel:+64800005570\" class=\"AVANSERnumber dynamic-number\">0800 005 570<\/a> or visit our <a href=\"https:\/\/legalvision.co.nz\/membership\/\">membership page<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Frequently Asked Questions<\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1690508940193\"><strong class=\"schema-faq-question\"><strong>What is due diligence?<\/strong><\/strong> <p class=\"schema-faq-answer\">Due diligence occurs when a buyer investigates your business\u2019s affairs, such as financials and legal documents, to make an informed decision before making the purchase.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1690508952865\"><strong class=\"schema-faq-question\"><strong>How can I value my business?<\/strong><\/strong> <p class=\"schema-faq-answer\">You can either value your business using internal skills or hire someone externally. Nevertheless, you must choose the correct valuation method to avoid undervaluing your business.<\/p> <\/div> <\/div>\n<div class=\"not-prose m-feedback-prompt\">\n    <!-- Thumbs up\/down bar -->\n    <div class=\"m-feedback-prompt__main\">\n        <div class=\"m-feedback-prompt__title\">Was this article helpful?<\/div>\n        <div>\n            <!--span class=\"m-feedback-prompt__button--text\">Thanks!<\/span-->\n            <button type=\"button\" class=\"m-feedback-prompt__button m-feedback-prompt__button--yes\"\n                    data-analytics-link=\"feedback-prompt:yes\" aria-label=\"Agree\">\n                <i class=\"fa-regular fa-thumbs-up fa-3x\"><\/i>\n            <\/button>\n            <button type=\"button\" class=\"m-feedback-prompt__button m-feedback-prompt__button--no\"\n                    data-analytics-link=\"feedback-prompt:no\" aria-label=\"Disagree\">\n                <i class=\"fa-regular fa-thumbs-down fa-3x\"><\/i>\n            <\/button>\n        <\/div>\n    <\/div>\n\n    <!-- Feedback form -->\n    <div class=\"m-feedback-prompt__form\">\n        <div class=\"m-feedback-prompt__form--thanks \">\n            <div>Thanks!<\/div>\n            <p>\n                We appreciate your feedback \u2013 your submission has been successfully received.            <\/p>\n        <\/div>\n        <form id=\"contact-form\" class=\"m-feedback-prompt__form--form\" action=\"\" method=\"post\">\n            <input type=\"hidden\" id=\"authenticity_token\" name=\"authenticity_token\" value=\"3bc3beddae\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/api\/wp\/v2\/posts\/224331\" \/>            <input value=\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/\" type=\"hidden\" name=\"currenturl\"\n                   id=\"currenturl\">\n            <input value=\"How To Sell a Partnership\" type=\"hidden\" name=\"currenttitle\"\n                   id=\"currenttitle\">\n            <label>\n                <!-- display on thumbs-up -->\n                <span class=\"m-feedback-prompt__feedback m-feedback-prompt__feedback--yes\">\n                    Can you tell us <span class=\"font-semibold\">why<\/span> you found it helpful?\n                <\/span>\n\n                <!-- display on thumbs-down -->\n                <span class=\"m-feedback-prompt__feedback m-feedback-prompt__feedback--no text-lg\">\n                    How can we better improve this article?\n                <\/span>\n                <textarea name=\"feedbackmessage\" id=\"feedbackmessage\" required><\/textarea>\n            <\/label>\n\n            <div class=\"m-feedback-prompt__form--error\" id=\"form-submit-error\"><\/div>\n            <button id=\"submit-contact-form-button\" type=\"submit\" name=\"commit\" class=\"m-feedback-prompt__form--submit\"\n                    data-analytics-link=\"feedback-prompt:submit\">\n                Submit            <\/button>\n        <\/form>\n    <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As a partner in a business, you would know that running a partnership can be a great way to grow and manage your business. A partnership involves two or more people working together to make decisions to progress the business. Selling a partnership involves many steps, including agreement between partners, valuing your business and considering<a href=\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/\">Continue reading <span class=\"sr-only\">&#8220;How To Sell a Partnership&#8221;<\/span><\/a><\/p>\n","protected":false},"author":13316,"featured_media":215584,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"965,217052,212007,206314,1391,201910","_relevanssi_noindex_reason":"","editor_notices":[],"footnotes":""},"categories":[13],"tags":[33,101,663,1648],"class_list":["post-224331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-sale-and-purchase","tag-company-sale","tag-partnership","tag-asset-sale","tag-partnership-valuations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How To Sell a Partnership | LegalVision NZ<\/title>\n<meta name=\"description\" content=\"When it comes to selling your business partnership, there are many steps to consider before and during the sale process.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How To Sell a Partnership | LegalVision NZ\" \/>\n<meta property=\"og:description\" content=\"When it comes to selling your business partnership, there are many steps to consider before and during the sale process.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/\" \/>\n<meta property=\"og:site_name\" content=\"LegalVision New Zealand\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/LegalVision\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-28T01:52:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-10T06:42:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2022\/05\/25002000\/business-image-0522149.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"909\" \/>\n\t<meta property=\"og:image:height\" content=\"603\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Zaakirah Nabi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@LegalVision_law\" \/>\n<meta name=\"twitter:site\" content=\"@LegalVision_law\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Zaakirah Nabi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/\"},\"author\":{\"name\":\"Zaakirah Nabi\",\"@id\":\"https:\/\/legalvision.co.nz\/#\/schema\/person\/e2c5d60479c8fa82bd33c2862cc394d1\"},\"headline\":\"How To Sell a Partnership\",\"datePublished\":\"2023-07-28T01:52:34+00:00\",\"dateModified\":\"2023-08-10T06:42:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/\"},\"wordCount\":898,\"publisher\":{\"@id\":\"https:\/\/legalvision.co.nz\/#organization\"},\"image\":{\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2022\/05\/25002000\/business-image-0522149.jpg\",\"keywords\":[\"company sale\",\"partnership\",\"asset sale\",\"partnership valuations\"],\"articleSection\":[\"Business Sale and Purchase Articles\"],\"inLanguage\":\"en-NZ\"},{\"@type\":[\"WebPage\",\"FAQPage\"],\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/\",\"url\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/\",\"name\":\"How To Sell a Partnership | LegalVision NZ\",\"isPartOf\":{\"@id\":\"https:\/\/legalvision.co.nz\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2022\/05\/25002000\/business-image-0522149.jpg\",\"datePublished\":\"2023-07-28T01:52:34+00:00\",\"dateModified\":\"2023-08-10T06:42:56+00:00\",\"description\":\"When it comes to selling your business partnership, there are many steps to consider before and during the sale process.\",\"breadcrumb\":{\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#breadcrumb\"},\"mainEntity\":[{\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#faq-question-1690508940193\"},{\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#faq-question-1690508952865\"}],\"inLanguage\":\"en-NZ\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-NZ\",\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#primaryimage\",\"url\":\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2022\/05\/25002000\/business-image-0522149.jpg\",\"contentUrl\":\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2022\/05\/25002000\/business-image-0522149.jpg\",\"width\":909,\"height\":603,\"caption\":\"How Do I Calculate Leave Entitlements in NZ? | LegalVision New Zealand\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/legalvision.co.nz\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Articles\",\"item\":\"https:\/\/legalvision.co.nz\/articles\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Business Sale and Purchase Articles\",\"item\":\"https:\/\/legalvision.co.nz\/category\/business-sale-and-purchase\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"How To Sell a Partnership\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/legalvision.co.nz\/#website\",\"url\":\"https:\/\/legalvision.co.nz\/\",\"name\":\"LegalVision New Zealand\",\"description\":\"LegalVision is a commercial law firm in NZ with a commitment to innovation\",\"publisher\":{\"@id\":\"https:\/\/legalvision.co.nz\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/legalvision.co.nz\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-NZ\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/legalvision.co.nz\/#organization\",\"name\":\"LegalVision New Zealand\",\"url\":\"https:\/\/legalvision.co.nz\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-NZ\",\"@id\":\"https:\/\/legalvision.co.nz\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/legalvision.co.nz\/wp-content\/uploads\/sites\/2\/2020\/11\/LegalVision_square_logo.png\",\"contentUrl\":\"https:\/\/legalvision.co.nz\/wp-content\/uploads\/sites\/2\/2020\/11\/LegalVision_square_logo.png\",\"width\":400,\"height\":400,\"caption\":\"LegalVision New Zealand\"},\"image\":{\"@id\":\"https:\/\/legalvision.co.nz\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/LegalVision\",\"https:\/\/x.com\/LegalVision_law\",\"https:\/\/www.linkedin.com\/company\/legalvision-group\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/legalvision.co.nz\/#\/schema\/person\/e2c5d60479c8fa82bd33c2862cc394d1\",\"name\":\"Zaakirah Nabi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-NZ\",\"@id\":\"https:\/\/legalvision.co.nz\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ad516503a11cd5ca435acc9bb6523536?s=96\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ad516503a11cd5ca435acc9bb6523536?s=96\",\"caption\":\"Zaakirah Nabi\"},\"description\":\"Zaakirah is a Legal Content Writer at LegalVision with particular expertise in Corporate and Commercial law.\",\"url\":\"https:\/\/legalvision.co.nz\/author\/zaakirahnabi\/\"},{\"@type\":\"Question\",\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#faq-question-1690508940193\",\"name\":\"What is due diligence?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Due diligence occurs when a buyer investigates your business\u2019s affairs, such as financials and legal documents, to make an informed decision before making the purchase.\",\"inLanguage\":\"en-NZ\"},\"inLanguage\":\"en-NZ\"},{\"@type\":\"Question\",\"@id\":\"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#faq-question-1690508952865\",\"name\":\"How can I value my business?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"You can either value your business using internal skills or hire someone externally. Nevertheless, you must choose the correct valuation method to avoid undervaluing your business.\",\"inLanguage\":\"en-NZ\"},\"inLanguage\":\"en-NZ\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How To Sell a Partnership | LegalVision NZ","description":"When it comes to selling your business partnership, there are many steps to consider before and during the sale process.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/","og_locale":"en_US","og_type":"article","og_title":"How To Sell a Partnership | LegalVision NZ","og_description":"When it comes to selling your business partnership, there are many steps to consider before and during the sale process.","og_url":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/","og_site_name":"LegalVision New Zealand","article_publisher":"https:\/\/www.facebook.com\/LegalVision","article_published_time":"2023-07-28T01:52:34+00:00","article_modified_time":"2023-08-10T06:42:56+00:00","og_image":[{"width":909,"height":603,"url":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2022\/05\/25002000\/business-image-0522149.jpg","type":"image\/jpeg"}],"author":"Zaakirah Nabi","twitter_card":"summary_large_image","twitter_creator":"@LegalVision_law","twitter_site":"@LegalVision_law","twitter_misc":{"Written by":"Zaakirah Nabi","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#article","isPartOf":{"@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/"},"author":{"name":"Zaakirah Nabi","@id":"https:\/\/legalvision.co.nz\/#\/schema\/person\/e2c5d60479c8fa82bd33c2862cc394d1"},"headline":"How To Sell a Partnership","datePublished":"2023-07-28T01:52:34+00:00","dateModified":"2023-08-10T06:42:56+00:00","mainEntityOfPage":{"@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/"},"wordCount":898,"publisher":{"@id":"https:\/\/legalvision.co.nz\/#organization"},"image":{"@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#primaryimage"},"thumbnailUrl":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2022\/05\/25002000\/business-image-0522149.jpg","keywords":["company sale","partnership","asset sale","partnership valuations"],"articleSection":["Business Sale and Purchase Articles"],"inLanguage":"en-NZ"},{"@type":["WebPage","FAQPage"],"@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/","url":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/","name":"How To Sell a Partnership | LegalVision NZ","isPartOf":{"@id":"https:\/\/legalvision.co.nz\/#website"},"primaryImageOfPage":{"@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#primaryimage"},"image":{"@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#primaryimage"},"thumbnailUrl":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2022\/05\/25002000\/business-image-0522149.jpg","datePublished":"2023-07-28T01:52:34+00:00","dateModified":"2023-08-10T06:42:56+00:00","description":"When it comes to selling your business partnership, there are many steps to consider before and during the sale process.","breadcrumb":{"@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#breadcrumb"},"mainEntity":[{"@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#faq-question-1690508940193"},{"@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#faq-question-1690508952865"}],"inLanguage":"en-NZ","potentialAction":[{"@type":"ReadAction","target":["https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/"]}]},{"@type":"ImageObject","inLanguage":"en-NZ","@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#primaryimage","url":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2022\/05\/25002000\/business-image-0522149.jpg","contentUrl":"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2022\/05\/25002000\/business-image-0522149.jpg","width":909,"height":603,"caption":"How Do I Calculate Leave Entitlements in NZ? | LegalVision New Zealand"},{"@type":"BreadcrumbList","@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/legalvision.co.nz\/"},{"@type":"ListItem","position":2,"name":"Articles","item":"https:\/\/legalvision.co.nz\/articles\/"},{"@type":"ListItem","position":3,"name":"Business Sale and Purchase Articles","item":"https:\/\/legalvision.co.nz\/category\/business-sale-and-purchase\/"},{"@type":"ListItem","position":4,"name":"How To Sell a Partnership"}]},{"@type":"WebSite","@id":"https:\/\/legalvision.co.nz\/#website","url":"https:\/\/legalvision.co.nz\/","name":"LegalVision New Zealand","description":"LegalVision is a commercial law firm in NZ with a commitment to innovation","publisher":{"@id":"https:\/\/legalvision.co.nz\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/legalvision.co.nz\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-NZ"},{"@type":"Organization","@id":"https:\/\/legalvision.co.nz\/#organization","name":"LegalVision New Zealand","url":"https:\/\/legalvision.co.nz\/","logo":{"@type":"ImageObject","inLanguage":"en-NZ","@id":"https:\/\/legalvision.co.nz\/#\/schema\/logo\/image\/","url":"https:\/\/legalvision.co.nz\/wp-content\/uploads\/sites\/2\/2020\/11\/LegalVision_square_logo.png","contentUrl":"https:\/\/legalvision.co.nz\/wp-content\/uploads\/sites\/2\/2020\/11\/LegalVision_square_logo.png","width":400,"height":400,"caption":"LegalVision New Zealand"},"image":{"@id":"https:\/\/legalvision.co.nz\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/LegalVision","https:\/\/x.com\/LegalVision_law","https:\/\/www.linkedin.com\/company\/legalvision-group"]},{"@type":"Person","@id":"https:\/\/legalvision.co.nz\/#\/schema\/person\/e2c5d60479c8fa82bd33c2862cc394d1","name":"Zaakirah Nabi","image":{"@type":"ImageObject","inLanguage":"en-NZ","@id":"https:\/\/legalvision.co.nz\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ad516503a11cd5ca435acc9bb6523536?s=96","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ad516503a11cd5ca435acc9bb6523536?s=96","caption":"Zaakirah Nabi"},"description":"Zaakirah is a Legal Content Writer at LegalVision with particular expertise in Corporate and Commercial law.","url":"https:\/\/legalvision.co.nz\/author\/zaakirahnabi\/"},{"@type":"Question","@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#faq-question-1690508940193","name":"What is due diligence?","acceptedAnswer":{"@type":"Answer","text":"Due diligence occurs when a buyer investigates your business\u2019s affairs, such as financials and legal documents, to make an informed decision before making the purchase.","inLanguage":"en-NZ"},"inLanguage":"en-NZ"},{"@type":"Question","@id":"https:\/\/legalvision.co.nz\/business-sale-and-purchase\/how-to-sell-a-partnership\/#faq-question-1690508952865","name":"How can I value my business?","acceptedAnswer":{"@type":"Answer","text":"You can either value your business using internal skills or hire someone externally. Nevertheless, you must choose the correct valuation method to avoid undervaluing your business.","inLanguage":"en-NZ"},"inLanguage":"en-NZ"}]}},"_links":{"self":[{"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/posts\/224331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/users\/13316"}],"replies":[{"embeddable":true,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/comments?post=224331"}],"version-history":[{"count":3,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/posts\/224331\/revisions"}],"predecessor-version":[{"id":224396,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/posts\/224331\/revisions\/224396"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/media\/215584"}],"wp:attachment":[{"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/media?parent=224331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/categories?post=224331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalvision.co.nz\/api\/wp\/v2\/tags?post=224331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}