You have worked hard all of your life in order to build a successful closely-held business. Now what?
Burr & Forman assists clients and prospective business clients in planning and implementing business and tax strategies, at all stages of business, including:
- Does it make sense to form a limited liability company or to incorporate?
- How is the company going to be capitalized? Loans from banks or other lenders? Sales of stock or other equity interests?
- How does an established company raise more capital? Recapitalizations or sale leaseback transactions? Additional sales of stock or other equity interests?
Sharing of Profits
- Do any employees get "sweat equity"?
- Are executive and/or equity based compensation arrangements such as bonus and performance based compensation plans appropriate? What about stock option plans? Stock purchase plans?
- How and when will money be distributed to the owners?
- Will any owners receive priority distributions?
- Who should be directors or managers of the company? Officers?
- Are employment agreements, shareholder agreements, partnership agreements or operating agreements appropriate?
Exit Strategy/Succession Planning.
If your exit strategy is to transfer your business, what do you need to do to:
When you transfer ownership,
- Sell your business to your business partner?
- Sell your business to a third party?
- Transfer the business to employees?
- Transfer the business to the next generation?
- Accomplish some combination of the above?
- Do you retain any control?
- Is your family taken care of?
- Are there any employee, lender, supplier, and/or customer issues?
These are just a few of the issues that must be addressed when one approaches the subject of business & succession planning.
At Burr, we take a team approach to business & succession planning, assigning attorneys from multiple disciplines to a client in order to achieve the most comprehensive and cost-efficient representation possible. Our inter-disciplinary team includes seasoned attorneys practicing in the areas of:
Contact one of our team members or read our Business Succession Blog to learn more about how we can help you with all of your Business Succession Planning needs.