A business that has traded for decades has never had its ownership documented
The arrangement was settled between the founders at the start, on terms everyone understood and nobody wrote down, and it has worked ever since. Writing it up later can feel like an accusation.
Without a document, entitlements are determined by general legal principles, by evidence of what was said years ago, and by how contributions can be proved. That is the position you do not want to be in during an illness, a separation, an estate administration or a disagreement about direction.
We record contributions, how profits are drawn, how decisions are made, and what happens when someone leaves, becomes ill or dies. Done while everyone still agrees it is a modest piece of work; done in response to an event it rarely is.
