Practice Areas & Industries: Burr & Forman LLP

 




Business & Succession Planning Return to Practice Areas & Industries

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Practice/Industry Group Overview

You have worked hard all of your life in order to build a successful closely-held business. Now what?

We assist clients and prospective business clients in planning and implementing business and tax strategies, at all stages of business, including:

Formation/Capital Contribution

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?

Distributions

How and when will money be distributed to the owners? 
Will any owners receive priority distributions? 

Management

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: 

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?

When you transfer ownership,

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 & Forman, 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:

Estate Planning
Taxation 
Mergers and Acquisitions
Corporate Finance 
Deferred Compensation 
Employee Benefits