Burr & Forman LLP

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:

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, 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

Burr & Forman LLP is committed to recruiting, hiring, developing, and promoting lawyers and staff without regard to age, race, color, religion, sex, national origin, military and protected veteran status, sexual orientation or disability.

We recognize that our ability to serve our clients is strengthened by establishing a diverse workforce in which differences are accepted and valued on an inclusive basis.

Burr & Forman LLP desires to foster a multi-cultured atmosphere that provides a cooperative work environment where everyone is treated with mutual respect, trust and understanding, and where everyone can reach their full potential. The firm values the knowledge and talents of a multicultural team in order to meet and exceed individual and business goals, and client expectations.