Business Succession Planning
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 issues 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.
7/14/2021 10:36:27 pm
The other day my wife mentioned that she is looking to hire a civil law firm, it is important for us to consider their experience. It makes sense for us to choose the right firm as it will impact the quality of service. I will definitely be more mindful in choosing the right firm.
12/8/2021 05:39:05 pm
I like how you mentioned that it is important to have a succession plan in every phase of your business. My cousin mentioned to me last night that he is hoping to find a reliable business succession planning that can help their family business and asked if I have any idea what is the best option to do. Thanks to this informative article and I'll be sure to tell him that he can consult a trusted business succession planning company as they can answer all his inquiries.
12/20/2021 06:58:56 am
My friend wants to make sure that his business is successful. It makes sense that having the right plans for his successor would be important. That seems like a good way to ensure that he puts everything together for everything.
Leave a Reply.
Rusconi, Foster & Thomas, APC
We're located in Morgan Hill, California serving Santa Clara, San Benito, Santa Cruz, and Monterey Counties since 1956.