SCUTTLING THE SHIP

SCUTTLING THE SHIP

I do not anticipate that this post will get very much engagement, and that's okay. I did not enjoy writing it. If you find yourself reading and discover the contents apply to your situation, know you aren't alone. The post is a continuation of my previous write-up about knowing when to keep fighting, and when to lower the life rafts. To that end, the relevance of this article is mainly limited to those who are in partnerships and have decided to start winching the rafts into the water.

Drafting formal articles for any organization is a necessary and preemptive measure, in the event your proverbial ship starts to take on water. That is to say that when your company was incorporated both you and your partner should have sat down to outline the expectations and SOP's for such an occasion as this. Assuming this is the case, I would be over my skis to give any counsel, other than to say that these articles are enforceable in court.

In a case where there were no formal articles drawn up then all lines begin to blur. To restore clarity, a few subjects need to be addressed.

1). COMMUNICATION

Like any relationship, you need to be intentional and genuine with your communication, otherwise, tacit misunderstandings will become major divergences in belief. Your heartfelt views of the future should not be hidden behind a thin ethereal veil of hope. A good example of this would be setting an "if-then, divorce date". If fundamentals do not improve by [date] I will be formalizing my legal exit from the company. Doing the above will, in many cases, reveal that your sentiments are not unanticipated and consequently, any feelings of resentment or bad blood are stifled.

2) EXITING SMOOTHLY

Under certain circumstances where an agreement cannot be reached and you have to go about withdrawal in a way that covers your bases legally, the following would be well advised. Draft a thorough and tactful resignation letter, explaining in detail your reasons for discontinuance of the collaborative venture. Be sure to include details as to sensitive company information included in the revocation. E.g. banking, marketing, and tax information.

This can best be done by opening with something positive about the other party, then segueing to the unattractive part, and finally a positive word on the time spent and experience gleaned. Have the letter notarized and delivered overnight, with signature required, to the other party's home address.