Unfortunately, divorce has become common in American society and with it, come the responsibilities of custody as it pertains to the children. Joint custody is simply the process by which both parents assume equal roles in the development of the child. It is the most ideal scenario. In business, joint custody also has a relevance as managers and team leaders all over the world have a shared responsibility (with the company) to make sure all team members excel and achieve greatness. Learn the key components of Managerial Joint Custody with this lesson.