Formal Business Maintenance and Update Program
Should the business be passed on to a family member or key employee? How do I minimize the tax consequences and protect the proceeds of any sale? In business, as in life, nothing ever stays the same. Change represents renewal and growth, but also stress and danger. Operating conditions, personnel concerns, organizational considerations and management methodologies all shift with distressing frequency. Industry and market conditions, customers, competition and state-of-the-art continuously evolve! Legal and compliance issues, which represent a critical danger, need frequent monitoring and reporting.
As with all of our planning, we offer you and your business a scheduled process to ensure the necessary updating and maintenance. Together, we will schedule a customized process for the immediate and long-term future.
Corliss, A Law Corporation, offers a simple solution to these business concerns. The Family Business Maintenance and Update Program helps entrepreneurs and family business owners stay on top of change — instead of being steamrolled by it. We offer periodic, usually annual, updates to the family business consisting of:
The Family Business Maintenance Program includes:
• Hosting periodic board meetings • Hosting periodic ownership meetings • Documenting minutes and reports of meetings held • Documenting "Restatement of Information" reports as needed • Business compliance reviews • Employment agreements for key managers and employees • Non-compete agreements for owners or key managers leaving the business • Non-disclosure agreements between the business and its key vendors, suppliers, advisors and contractors • Asset Protection
**Change is inevitable. It poses both dangers and opportunities.
Make sure you avoid the former and take full advantage of the latter.**