Family Law: Defining the line between business and personal

Stephen Coppinger, solicitor, looks at Family Law in Ireland as it governs ownership through personal highs and lows

While it is quite common for a couple to start a business together, it is advisable that both parties should inform themselves of the legalities around ownership of their business. Picture: iStock

It is very common for married couples or partners who are cohabitating to run a business together. The business may operate as a partnership between the couple or it may be a company where both parties in the couple are directors or company secretaries of the company. 

Under the Companies Act 2014, the obligation for private limited companies now is to have one director and a company secretary. If there is only one director, the director and company secretary cannot be the same person. However, if there are two directors in the company, one of the directors can be the company secretary.