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Business strategy
How death of an employer terminate a business.
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[QUOTE="Alexandoy, post: 216145, member: 25510"] In a small company that can really happen that when the business owner would die and the children or relatives do not care about the business then it will cause a termination of everything that are connected to the business. The assets will be distributed to the heirs and the workers will cease to be employees. However, under the labor law of our country the workers should be paid their separation pay and the unused sick leaves and vacation leaves plus some other benefits. If the family of the deceased owners are humane and kind to people then the workers will have more aside from the legal benefits due them. One case is our relative who owns a big ketchup factory. He is the sole owner although the registration of his business is a corporation (his family members are the major stockholders). He is actually the younger brother of my paternal grandmother. When he died the business was sold and the proceeds were divided among the heirs. As for the workers, the buyer retained more than half of the workers. [/QUOTE]
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How death of an employer terminate a business.
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