Author: Hudson Law

Who should I get to help with my business succession plan?

It’s difficult to come up with a good business succession plan on your own. Instead, you should involve your professional advisors. Use a lawyer (big surprise, I know) and involve your financial advisor and your accountant. You might be able to think of other advisors who should also be included in planning discussions. Your advisor […]

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When should I start planning for my business succession?

If you’re starting to think about transitioning your business, it’s a really great idea to come up with a written business succession plan. The plan should outline the actions that need to be taken and the timeline for taking those actions. That timeline can be anywhere from a several months to several years, depending on […]

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Rights of First Refusal, Piggy-Back Rights, and other Restrictions on Transfer of Shares

Most shareholder agreements for closely-held corporations will restrict the sale or transfer of shares. The purpose of these restrictions are to ensure that you don’t unwillingly end up in business with someone you don’t know and/or with whom you would not have gone into business in the first place. For example, if you’re in business […]

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