When you are struggling with the decision of whether or not you should end your business venture, I recommend the following course of action:
1. Write down what is going on in your head about the business on paper. Write the reason you started it, the good things about it, the bad things, and the situation that has brought you to wanting to shut it down.
2. Gather any contracts, bank statements, legal documents, invoices and any IP, and anything else you may have and read through them carefully. Find out what your current obligations are, if any, and to whom.
3. If you have any partners or co-founders, discuss your intentions and the reasoning behind it. If you’ve decided to completely dissolve the company, lay out the division of ownership with supporting documents. If you’ve decided on a buyout, have the offer in writing.
If, instead, you have decided to continue working on the company, communicate with your partner about how their apparent lack of commitment makes you feel the company will not be successful.
4. If you do shut down your business, and it has an MVP website up, remember to take it down.
Originally Posted: https://www.quora.com/How-do-I-fire-my-co-founder-and-close-my-startup
Originally Posted On: 2015-03-30