I have decided to resign from a small company which I was a 50% partner and work independently.
All costs and work in the company has been done and earned on an equal split. In the course of the business, we purchased a commercial software and upgraded with a maintenance agreement .
The original purchase costs were about $35,000.
The accountants depreciated the purchase costs for tax reasons and the book value is now below $10,000 dollars.
The identical software now costs $50,000.
What value do we put on the software under commercial law? Both of us want to continue using the software after the split.
All costs and work in the company has been done and earned on an equal split. In the course of the business, we purchased a commercial software and upgraded with a maintenance agreement .
The original purchase costs were about $35,000.
The accountants depreciated the purchase costs for tax reasons and the book value is now below $10,000 dollars.
The identical software now costs $50,000.
What value do we put on the software under commercial law? Both of us want to continue using the software after the split.