A Partnership Survival Plan

”I should have bought stock in the company that makes this stuff,” Ron said as he tossed the drained bottle of antacid in the waste basket. The anxiety and stress of the partner relationship with his brother, Mike, not only made life around the shop unbearable but was having an impact on Ron's health.

Ron and Mike owned and operated a small engine sales and repair business that they inherited from their father 24 years ago. They divided up the responsibilities the way many partners do, with one brother in charge of sales and finance and the other managing operations. Mike and Ron had generally worked well together in the past, but ever since Ron's two sons entered the business four years ago, small disagreements were now turning into major blowups. In addition, with both partners now in their late 50s, the need to plan for retirement had posed new set of potentially explosive issues.

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