Just because a relationship ends, a family business doesn’t have to, Toronto family lawyer Nathalie Boutet says in a Spark Business IQ article discussing how to protect companies from failed romantic partnerships.
“The bottom line is that the split should not be acrimonious,”
Boutet says in the article, adding the best-case scenario is ensuring the business continues to run smoothly and that both parties get what they want — whether it’s the business or a buyout.
When it comes to division of the business, it’s best to leave emotions out of negotiations, says the article.
“For a married or cohabiting couple, there is typically more on the line, such as a house and shared bank account, not to mention heartache,” says the Spark Business IQ report.
Collaborative negotiation is one solution that is likely to benefit all parties, says Boutet.
“It’s interest-based negotiation,” she says. “It’s about drilling down to get to what you want.”
“Most people who have a reasonably successful company want it to succeed. Deal with each other as business people and try to stay out of court.”
Read the full article on Spark Business IQ.