Many people are familiar with the challenges of co-parenting after a divorce, but what about running a business together? For many New York exes, shared commercial ventures are among the most contentious things they face when untying the knot. Many may wonder about their options when it comes to a shared business, and whether continuing to run a lucrative business together despite the divorce is a good idea.
One of the major issues that can arise for exes who choose to continue with a shared business venture is that new partners may have difficulties with the arrangement. This can be particularly problematic for new partners if running the business requires close contact between both parties. Establishing boundaries is important in these cases, and partners should do what they can to support these boundaries and clarify their comfort level early on.
There are a few things co-owners of a business can do to keep things running smoothly in spite of a divorce. Assigning clear and separate responsibilities is typically a good idea, as is developing a forum for conflict resolution. Keeping boundaries regarding what is appropriate to discuss in the business and making sure professional lines do not get crossed is also important.
Shared businesses can be a source of great wealth or great conflict for families. Those who cannot handle their partner sharing a business with an ex should think twice before getting too involved. New York individuals going through a divorce and wondering about the future of a shared business can also seek advice from a family lawyer.
Source: detroitnews.com, "Ex-etiquette: Doing business with an ex", Jann Blackstone, April 13, 2018
