Succession Planning for Business Owners

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At General Counsel, P.C., our attorneys have extensive experience in representing a wide range of local, regional and national companies. We are particularly sensitive to the needs of government contractors and emerging growth businesses. Our knowledgeable lawyers provide comprehensive legal advice on how to gracefully exit your business.

Succession planning may not be the most pleasant of tasks for most business owners, but nonetheless it is an important one. It’s likely that you have invested a great deal of your blood, sweat and tears into your business. As a result, you would like to see your business and efforts flourish after you leave the helm. As the name would imply, succession planning requires a great deal of planning and evaluation. Establishing a succession plan early on helps establish expectations and can streamline the affairs of the company in a hectic time.  Waiting until a crisis rears its head to consider the future of the company could lead to hastily made plans and disastrous outcomes.

The main elements of a well developed succession plan will cover:

  • How to transfer the power and control of the business; and
  • How to transfer the assets of the business.

Our business attorneys understand the importance and necessity of creating an appropriate succession plan for your business. We can help you formulate the right strategy for your business so that it is ready to meet the challenges posed by retirement and/or sale of the company. This successful planning can also extend towards easing or preventing the problem areas that arise between corporate owners.

Through careful drafting of Operating Agreements (LLC), Partnership Agreements (Partnerships), or Shareholders' Agreements (Corporations) we can work with you to include buy-sell provisions that will allow you as an owner to be prepared for whatever situation may arise. General Counsel will work closely with you to ensure that your business has a succession plan in place that effectively plans for uncertainties, anticipates externalities that may affect the business in the future, and defines the business’s relationships through operating agreements, shareholder agreements, and/or most importantly, buy-sell agreements

THE RIGHT LAW FIRM FOR YOUR BUSINESS

Whether you are establishing a new business or you are a large corporation seeking outside counsel, we are well-positioned to meet the legal needs of your business.

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Our team of attorneys is dedicated to ensuring that your company stays on track to achieve its business objectives. We strive to build a partnership with you and your business, remaining on call as you grow your operation and are faced with new opportunities and new challenges.

  • I had less than 36 hours to find a lawyer for my case at work. I found Merritt Green through the internet. He quickly spoke to me about my problems and agreed to represent me on my case. Merritt Green and his associates were there for me through my whole case even when called at the last minute and even negotiated my return to work. I could not have asked for more help and support in a dire time.
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    Bob Bowen, Senior Fellow, Forum for Youth Investment
  • As a government contractor (and growing business), I have relied on General Counsel, P.C. for over four years to be my legal partner and trusted advisor.
    Michael L. Daniels, CEO, Incisive Technology Inc.
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    Daniel Sanders, President and CEO Four Sales Ltd.
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    Thomas J. Davis, CEO / IT Coalition, Inc.
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    Sherry M. Bell, COO / Fundraising Initiatives, Inc.

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