The Family Business Guide: Everything You Need to Know to Manage Your Business from Legal Planning to Business Strategies

✍ Scribed by Frederick D. Lipman

• Publisher: Palgrave Macmillan
• Year: 2010
• Tongue: English
• Leaves: 299
• Category: Library

✦ Synopsis

A practical guide to best and worst practices for family businesses--from drawing up incorporation documents to succession planning to selling the business.  The book also includes examples from actual court cases and presents these lessons in an accessible manner.  Sample legal agreements are included which help to avoid some of the major risks to the family business.

✦ Table of Contents

Cover......Page 1
Half Title......Page 2
Title......Page 4
Copyright......Page 5
Contents......Page 8
Acknowledgments......Page 10
Introduction......Page 12
1 Succession Planning......Page 18
2 Family Employee Agreements and Shareholder Agreements......Page 40
3 Governance Structures for Family Businesses......Page 58
4 Worst Practices: What We Can Learn from Family Disasters......Page 74
5 Compensating Family Members......Page 88
6 Creating Phantom Equity Incentives for Key Employees, Both Family and Non-Family......Page 96
7 Dealing with Inactive Minority Shareholders......Page 106
8 Eliminating Minority Shareholders......Page 114
9 Family Businesses in Financial Distress......Page 122
10 Selling a Family Owned Business......Page 130
11 Preserving and Transferring Family Wealth......Page 144
12 Family Businesses Going Public......Page 154
Appendix 1: Selected Portions of a Speech by Philip Clemens, Chairman/CEO, Clemens Family Corporation October, 2008......Page 172
Appendix 2: Prenuptial Agreement......Page 184
Appendix 3: Irrevocable Spendthrift Trust......Page 208
Appendix 4: Phantom Unit Agreement for Key Employees......Page 226
Appendix 5: Private Company [Sale or IPO Exit] ABC, Inc., 2010 Stock Option Plan......Page 240
Notes......Page 278
Index......Page 286