Dissolution of Partnership is the process of legally ending a partnership. It is the formal process of terminating the partnership between two or more partners, which results in the end of the partnership business. A partnership can be dissolved in several ways, such as by mutual agreement of the partners, by the occurrence of a specific event, or by the death or bankruptcy of a partner.

When a partnership is dissolved, the partnership's assets are typically liquidated and the proceeds are distributed among the partners in accordance with the terms of the partnership agreement. Any outstanding liabilities and debts of the partnership must also be settled before the dissolution can be completed.

It's important to note that dissolution of partnership should be in compliance with the laws and regulations of the state where the partnership business is operating. It is also a good practice to file the dissolution with the relevant government office, to make it legally binding.

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