Nancy’s career has always been her first line of defense, whenever she’s asked why she doesn’t commit to Michelle’s project. The fact that she doesn’t particularly like the job she got mainly due to her uncle being a partner is not something a smart person should bring up. Even when their point is that moving over to Michelle’s company would free you of all the accusations of nepotism.

On a side note regarding ownership, I don’t know if Nancy has invested anything more than helping Michelle’s company. But giving her best friend a piece of the pie is something Michelle would do.