Are You and Your Business Partners on the Same Page?
Whether you pass away, retire, or become disabled, a thoughtful comprehensive succession plan is vital to the survival of your business.These lans can be complicated, but with help from the Law Offices of Rusconi, Foster and Thomas, you can rest knowing the transition will be a smooth one.
The Succession Planning Team at Rusconi, Foster and Thomas has years of experience in the business litigation and business contract areas and they have some tips.
Discuss Succession with Your Business Partners
First, are you and your partners on the same page? Do you want the business to remain "in the family" or are you open to the idea of outsiders as partners?
Once that's settled, you need to establish a process to keep everyone "in the loop" on decisions about the transition - as well as resolving disputes.
Identify a Successor for Your Business
Next, identify your successor as well as those who will manage the company. Make sure everyone knows what role he or she is expected to play.
You've worked too hard for too long to leave your succession plan in the hands of just any business law attorney. Contact Rusconi, Foster and Thomas today.
Rusconi, Foster & Thomas, APC
We're located in Morgan Hill, California serving Santa Clara, San Benito, Santa Cruz, and Monterey Counties since 1956.