We’ll review the possible successors, evaluate them, weigh their pros and cons, and then advise you on the best person for the job. Once completed, we’ll help craft a comprehensive plan to get them moving full speed ahead on managing business affairs.
Choosing the most suitable method of transferring ownership of that business is a significant concern. We’ll review your business model vis a vis legal and regulatory requirements to determine the best methods of transferring ownership.
We partner with human relations professionals who will guide you on the best way to hire new management. Our approach maintains a professional cordiality with the former management so the business does not suffer adversely or halt during the transition.
Your business’ financial strength informs overall decision-making, letting new leadership know how the succession plan can meet all pending and upcoming needs.
We remain focused on the business succession plan's tax-financial implications and general legal implications. Legal and tax requirements are complicated affairs that require professional guidance to navigate successfully.
Secure the future of your business with succession planning. We are here to guide you through every step, ensuring a seamless transition. Don’t wait until it's too late—schedule your consultation today and protect your legacy.
By structuring the succession to pass only to family members, you can keep the business within the family, compound generational wealth, and sustain the legacy.
This succession plan may combine two or more businesses in a merger or acquire a new business through an acquisition. This creates a stronger, more competitive entity with a higher market share. The downsides include the risk of loss of business identity and company culture.
ESOP integrates employees as beneficial owners of the company. Employees become company owners based on the amount or value of their stock.
You may sell the business to a non-affiliated external party, such as a private equity firm, competitor, or individual investor. Third-party sales can bring new energy to a business but may also adversely affect its culture, operations, or employee retention.
A group of existing managers or members of a business's management team may pull resources to buy from the owner. This allows a smooth transition because they are familiar with the business.
An agreement between a buyer and a seller stipulates both sides’ covenants and terms. Common terms in a buy-sell agreement include ownership transfer and payment structures.
This is a contract among the shareholders of a company defining the extent of their rights, duties, and privileges. It typically provides profit sharing, ownership transfer, voting rights, and management control.
We consider the size of an estate with taxation to minimize potential tax liabilities during succession. We do this by including tax exemptions, creating trusts, and leveraging generation-skipping transfers.
Corporate restructuring is the blanket term for ways a business alters its existence. A company’s legal structure may change during this process, but we simplify ownership transfer for a seamless transition.
You must protect the intellectual property vested in certain products and allow the new management to use them without infringing on your rights. Intellectual property rights may include patents, trademarks, copyrights, and trade secrets.
Business succession planning is not a one-size-fits-all activity, so we adopt a personalized, client-oriented approach by tailoring the strategy to each client's specific needs.
We partner with other professionals, such as banking, finance, and tax professionals, to develop smooth transition strategies while ensuring all considerations are accounted for.
Business succession planning is not a one-time event. Your succession plan should be updated regularly to account for evolving circumstances. We always review and update the completed succession plans when major events occur.
We work closely with our clients in an attempt to identify emerging crises and prepare contingency plans to keep the business transition from suffering setbacks.
A successful business may endure long after the passing of its founder. In order to make sure that your business will be in good hands for the generations to come, it's important to think through business succession planning. Contact Rhodium Law today for a free consultation today to discuss your business succession planning needs.
Our team is seasoned in business law with years of experience in complex transactions
.
Our firm takes a multi-dimensional view of each plan. We review and address potential issues from various domains to facilitate a smooth transition process.
We recognize the value of repeated business, so we perform our work with the highest standards to earn your trust and maintain a long-term relationship with our clients.
Our team brings a diverse set of experience in related areas of law which come to bear in the business succession planning process.
