Treating the Children who are Involved in the Business and those who are not, Equally
Your business is thriving. You have a strong management team to whom you can delegate decisions you had been making yourself for years. You take off every Thursday to play golf or to watch your grandchildren. You are thinking about taking off more time… Read More
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Business SuccessionIs your business succession plan and the Phillies’ succession plan the same?
It’s Baseball Season again. For those of us who are Phillies fans, we are witnessing the end of an era, with the transition of World Series winning players to the next generation of Phillies. Do the Phillies have a succession plan in place for the… Read More
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Business SuccessionSEC Crowdfunding Investor Bulletin
Ernest Holtzheimer contributed to this blog post. Holtzheimer is a 3L at Drexel University Thomas R. Kline School of Law, concentrating in business and entrepreneurial law. On February 16, 2016, the SEC’s Office of Investor Education and Advocacy issued an investor bulletin relating to securities-based crowdfunding,… Read More
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crowdfundingWhy A Handshake Agreement Among Business Partners Is Not Worth The Paper It Is Written On
You go into business with your sister, your father, your college roommate or your best friend. The classic “we-started-in-the-garage” business. You struggle at the beginning – you do whatever you can to minimize overhead. Lawyers are expensive so you decide not to put anything in… Read More
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Business SuccessionStepping Over Dollars to Save Dimes: The Importance of Good Corporate Record-Keeping
Managing expenses is an issue for every business, but it is particularly an issue for small and closely-held businesses. For very rational reasons, exercises that might otherwise seem sensible, but for which there is no clear and quantifiable benefit, are typically put to the side… Read More
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Corporate and SecuritiesDemystifying Discounts
Discounts for lack of marketability and lack of control or minority interest are essential elements of the valuation of stock or other interests in a closely-held business. They are factors which a prospective buyer will consider in determining how much to offer for such an… Read More
Disappearing Discounts
While the federal estate and gift tax used to be assessed at a maximum rate of the confiscatory fifty-five percent (55%) (and for a few years and for very large estates, an astounding sixty-five percent (65%)) it is now at the historically low figure of… Read More