Renewal/Transition/Exit

Renewal/Transition/Exituser2019-02-13T18:49:02+00:00

Renewal/Transition/Exit

The Renewal/Transition/Exit stage is where the business or business assets are transferred to its successor, or the business ceases operation. Business ownership can be transferred through mergers, acquisitions or initial public offerings. A family business may be transferred to a relative. The owner may wish, or be required, to continue serving in a certain capacity – ex officio; consultant; Chairman; etc.

In every event, the future of the business and its soon to be former owner(s) is at stake. Fortunes, futures, legacies, and the results of many years of sweat, inspiration and dedication are determined. Executive Counsel offers a variety of services to ensure the smoothest possible transition, including:

Due Diligence Review
Bankruptcy – Creditors Rights
Mergers & Acquisitions
Initial Public Offerings
Sarbanes-Oxley Compliance
Securities Reporting (10-K, 10-Q, 8-K, Forms 3, 4 and 5, etc.)

Importance of Corporate Records
Importance of Corporate Records Most companies conduct their businesses through a legal entity such as a corporation, limited liability company or limited partnership. Why? The primary purpose of doing business through one of these entities is to insulate owners from liability arising out of company activities. For example, if someone is injured as a result of a company activity or product or on its premises, presumably the owners are shielded from personal liability. Nevertheless, the injured person could seek to reach the owners’ personal assets by attempting to “pierce the corporate veil” of the company. Likewise, a plaintiff in a contract dispute can also seek an owner’s personal assets in this manner. In determining whether to pierce the corporate veil, a court generally will not […]Read More