Entries by Mary

When Your Business Co-owner is Getting a Divorce – A Sigh of Relief it’s Not You or….

Are you in the thick of your business partner’s divorce too? The short answer is yes. Not only are the other owners likely to be pulled into another owner’s divorce, but the company itself can become a named party in a future litigation if things get ugly between the divorcing couple. Most business owners have […]

Divorce and the Family Business – Part 3 – Key Success Factors of Working Together Post Divorce

Most business owners know not to bring personal issues to work, but how do you do that when your ex-spouse is your business partner, co-owner or employee? Although it does not happen often, divorced spouses have been able to continue operating a family business successfully together. How do they do it? Maintaining Mutual Respect and […]

Divorce and the Family Business – Part 2 – Who Stays and Who Goes?

Both parties are often emotionally as well as financially invested in the business. It may have also been a major part of their social lives as is found with franchise owners who develop a business and social community. Working together after divorce is an admirable goal, but it may not be realistic for many divorcing […]

Divorce and the Family Business – Part 1 – Close or Sell the Business?

In a three part series I will explore the options available to divorcing couples who have family businesses. Industry Canada’s definition of “small business” is firms that have fewer than 100 employees. Ninety-eight percent of businesses in Canada have fewer than 100 employees according to their Key Small Business Statistics report issued July 2012. This […]