Question

When a partner leaves a partnership it is possible that total assets will be unaffected?

Answer 1

If a partner in the original partnership takes assets of that partnership exclusively for themselves, they must account to all the partners in the original partnership for the value of what they take.

It is quite common for only one partner to leave a partnership, and for the remaining partners to want to continue the business previously carried on by the original partnership using the assets of the original partnership (including any IP or goodwill). However, just because a majority of the partners wish to continue the business does not mean they have exclusive rights to the assets of the original partnership.