Independent Financial Adviser --- Page: 27 : 24 September 2007 Original article by Peter Townsend
LexisNexis Summary
It is vital for the joint owners of a business to sign a co-ownership agreement. This is vital because people and circumstances change, and one person may want to leave the business. A co-owner can die, become ill or want to do other things, and co-owners can fall out and become very angry with each other. The written co-ownership agreement should be drawn up by an objective professional who listens to the needs of the owners. This agreement will be expensive to draft, but it operates like a raincoat in a storm, keeping the owner snug and warm. The agreement must cover all the issues. The agreement will secure the financial future of all those who sign it, and it will give certainty in times of change.
