Should the Sons Start a New Business Entity?
Succession planning for a closely-held business has many potential pitfalls, including:
Consider the following hypothetical case.
Dad, the family patriarch, has a wholly-owned corporation (“POP, Inc.”) that has operated a family business for 40 years. Recently, however, regulatory authorities have been particularly critical of certain aspects of the “old school” way the business is being conducted, asserting regulatory …read more
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