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Dunn Lambert, LLC | Attorneys At Law

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201-957-0874

Dunn Lambert, LLC | Attorneys At Law

Comprehensive Legal Services For Businesses

In New Jersey And New York call
201-957-0874

Dunn Lambert, LLC | Attorneys At Law

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Business Law Professionals

Is it possible to run a business with an ex?

On Behalf of | Dec 22, 2022 | Business & Commercial Law |

Due to the legalities and difficulty behind dividing businesses, some people may want to consider running their business with their ex-spouse.

Some people may find this an easy task. However, it may prove much harder than others expect. How can an ex-couple keep their business afloat even after ending their personal relationship?

Changing your relationship

Times News discusses ways of keeping a business going even if the business partner is your ex-spouse. First, develop a professional relationship instead. Both members of the ex-couple should redefine how they interact with and view one another, leaving their marriage and divorce at home.

Creating a formal and legal partnership may serve as the next step, though it is not necessary. By doing so, business partners create an agreement with details about who holds what responsibilities and what each party will contribute. These agreements protect both parties as well as the business in the event of future arguments.

In creating this agreement, consider what each partner brings to the table. Understanding unique contributions makes it easier to divide responsibilities. It also helps everyone understand where to invest their particular talents.

Involve a third party

Finally, consider getting a third party involved. This can include a potential third partner without any allegiance to either of the other partners, or it may include someone like a mediator. Mediators act to mitigate arguments as they begin, and can help keep discussions running smoothly even in relatively tense situations.

Together, these steps may allow a divorced couple to continue their business without much trouble in the future.