News & Analysis as of

Succession Planning

And the Award For Most Oppressive Conduct By a Majority Shareholder Goes to . . .

by Farrell Fritz, P.C. on

Over the years I’ve litigated and observed countless cases of alleged oppression of minority shareholders by the majority. Oppression can take endlessly different forms, some more crude than others in their execution, some...more

Definitions in Shareholder Agreements Matter When Transferring Family-Owned Business Stock

by Murtha Cullina on

Owners of family-owned corporations often enter into shareholder agreements that spell out whether and to whom corporate shares can be transferred. Frequently, these agreements provide for rights of first refusal by the other...more

9 Legal Questions Every Small Business Owner Should Ask

by Fraser Trebilcock on

As a small business owner, you wear multiple hats. Making sure your business is compliant with laws and regulations is a top priority. These 9 legal questions every small business owner should ask will help you evaluate where...more

Jones Presents at NCBA Estate Planning and Probate Section Annual Meeting

by Moore & Van Allen PLLC on

Charlotte Wealth and Estate Planning Member Chris Jones spoke at the North Carolina Bar Association (NCBA) Estate Planning and Probate Section Annual Meeting in Kiawah Island, SC on July 28. The presentation titled,...more

Beyond Succession; Opening a Discourse About Inheritance

by Davis Wright Tremaine LLP on

Recently we published a post in our blog about succession and the steps necessary to see it through. Having an open, honest, and transparent discourse with family members is one such step. Yet, this is often more easily said...more

The Important First Step in Law Firm Client Succession

by Hayse LLC on

Succession planning of client relationships at law firms requires a thoughtful examination of a law firm’s past, present and future. Managing the transition of a senior lawyer’s practice to younger counterparts is not easy....more

McNees Insights – Estate Planning Newsletter - July 2017

Deducting Miscellaneous Itemized Deductions - You can elect each year to itemize deductions rather than claim the standard deduction. Itemized deductions are those that you claim on Schedule A of Form 1040, Itemized...more

Family Business – The Key to Surviving Generations

by Davis Wright Tremaine LLP on

Every article, paper, memo, or advisory about family business succession touches on some common themes. Plan early. Communicate well. Document the process. Gauge the true interest and ability of the next generation. A few...more

Best in Law: It's a Family Affair! How to Avoid the Pitfalls - Six Legal Tips to Running a Family Business

by Best Best & Krieger LLP on

Many successful businesses are family-owned. There is an unmatched pride that comes from building a business that has the capability of being passed down through generations. Yet, a family business faces unique challenges....more

Law Firm Survival and Succession Planning – 3 Steps

by Hayse LLC on

Succession and succession planning are hot topics in the legal profession. One statistic explains the focus on the topic – only about 30% of law firms make it beyond the first generation....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Uber’s troubles over the past few months have been well documented (here, among many other places). Still, this weekend’s news that the ride-hailing company’s board is considering a three-month leave of absence for CEO Travis...more

Hope For the Best, Prepare For the Worst: How to Effectively Manage the Perpetual Risk of Employee Loss

by Miles & Stockbridge P.C. on

Inevitably, all businesses must deal with employee turnover and the departure of key employees. Such departures have become more frequent of late, as the economy is again on the rise, more jobs are available, the unemployment...more

Passing the Baton: Lessons Learned

by Davis Wright Tremaine LLP on

On May 16, 2017, Davis Wright Tremaine LLP hosted 85 owners and managers of family-owned businesses at the latest edition of our Family Business Legacy Series. Mike Garvey, the co-founder of Saltchuck Resources, a...more

Day 12 of One Month to Better Compliance through HR-Succession Planning Around Compliance

by Thomas Fox on

Another area where compliance can play a key role is in succession planning. Succession planning is just as important as governance, enterprise risk and strategic oversight. In other words, it is just as important. Sadly,...more

Succession Planning—Bet the Farm on It

by Ward and Smith, P.A. on

Despite recent trends toward consolidation in the agricultural industry, farming generally remains a family affair. According to the United States Department of Agriculture, 97 percent of all farms in the United States are...more

Construct the Proper Succession

In the construction world, the parties spend a lot of time planning the project before it starts. Typically, such careful planning allows for the project to go as smoothly as possible. Having a project go according to plan...more

If You Expect to Work in the Family-Owned Business for Life, Be Sure to Get It in Writing

by Murtha Cullina on

Family-owned businesses often employ multiple family members. Even if there is an expectation that employment will continue indefinitely, the company and the family member employees both usually reserve the right, explicitly...more

Identifying and Managing Corporate Risk from Internal and External Stressors

by Tucker Arensberg, P.C. on

I’ve been asked the same simple question time and time again by clients who are faced with litigation – How did this happen? Sometimes they are referring to a looming dispute over large accounts receivable, employee...more

Episode 7: Conflict in the Family-Owned Business: A Conversation with Professor Benjamin Means

by Farrell Fritz, P.C. on

As many litigators will tell you, “business divorce on steroids” aptly describes the tenor of litigation that can erupt when members of a family-owned business have a falling out. No one has devoted more scholarship to the...more

Four Signs Your Law Firm is Not Ready for Leadership Succession

by Hayse LLC on

At many law firms that recognize the need for succession planning, preparation for leadership succession receives too little attention. Succession planning can languish for various reasons. In some instances, the press of...more

An Oppression How-To: Revoke Employment, Profit Sharing and Control

by Farrell Fritz, P.C. on

An earlier post on this blog, examining a post-trial decision in Matter of Digeser v Flach, 2015 NY Slip Op 51609(U) [Sup Ct Albany County Nov. 5, 2015], described the minority shareholder’s dissolution claim under Section...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Measuring growth according to GDP. It’s how we’ve always done it, but here’s an interesting argument that the transition to an online services-based economy may mean that we’re underestimating growth by as much as 2 percent...more

10 Questions That Need Answers for a Successful 2017 (and Beyond)

by LawVision Group LLC on

At about this time last year, I wrote a blog about 10 Projects That Can Produce Big Results in 2016. My goal was to get each reader’s firm to focus on one signature project from a “menu” of options that would have a positive...more

Succession Planning Not Discriminatory

by Sherman & Howard L.L.C. on

A federal district court has ruled that instructing an HR Director to “adapt to bring out the best in our new and younger employees” was not evidence of age-based harassment. Vontlintel v. Eagle Comm., Inc. No....more

Your Business Plan Will Sell Your Business

by Gray Reed & McGraw on

This is the last installment of a series discussing potential pitfalls relating to selling your business. Recently Tilting the Scales highlighted Successfully Selling Your Business: Top 6 Potential Pitfalls; So You Might...more

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