JAKARTA: Nothing lasts forever, and the corporate world is no exception. Losing a partner in a business venture is not the end.
Many firms have emerged from a breakup. The question is how to gather the pieces and bounce back.
Chef and steakhouse owner Afit Dwi Purwanto is one of a relatively small group of people to open up about their business breakup, namely one he and his business partner Wynda Mardio experienced back in 2012.
After the split, Afit changed the logo and created new recipes that he kept hidden from his former business partner.
His name now features on the new Holycow logo, with the tagline “Steakhouse by Chef Afit.”
Meanwhile, Wynda owns the Holycow Steak Hotel, the brand that existed before the split. The changes were aimed at distinguishing Afit’s business from Wynda’s.
“We chose to expose this partnership split to inform our customers of this difference. So in the end, I altered the brand to enhance its value with my personal touch,” Afit told The Jakarta Post.
Giovanni Christy, a Jakarta-based legal practitioner with Robin Sulaiman & Partners, noted the importance of agreeing on intellectual property rights.
“For example, in a restaurant, there is actually a brand that is listed, but then there is also such a thing as a trademark coexistence agreement,” she said, adding that this could prevent problems associated with similar names after a partnership breaks up.
“Intellectual property rights are necessary, such as when it comes to determining who is entitled to receive a profit, for example, if someone wants to franchise a brand,” Giovanni noted. — The Jakarta Post/ANN
