Family business owners to approach the process objectively will waste less money and energy on an intrafamily lawsuit.
When a strong family business leader dies, there is some turmoil as the family and company regroup. But if there is no succession plan, the upheaval could cripple the business and devastate the family. Here's what to do if planning has been permanently put on the back burner.
Your company, like all others, has a very valuable collection of information which, if it were known to your competitors, would be devastating. Yet, protecting this information is extremely difficult and often not done as carefully as possible.
Lawsuits involve emotional and financial costs - but they're a viable option if the balance of power is untenable. An attorney explains how the system works.
Conflicts often arise over issues of liquidity and minority owners’ power. This article explores minority owners’ options after talking has failed to resolve that conflict. It discusses legal strategies that can facilitate reaching an agreement on those issues. It also addresses types of agreements between family shareholders designed to avoid this conflict.
Clearly communicating your needs and expectations to your lawyer means you receive better advice and, usually, better value. Eight simple rules will help you redefine your relationship to achieve more valuable advice.
Getting the most value from your lawyer requires the same skills as getting the most value from any staff member, supplier or consultant - good management.