You have built a business, and that business is part of your legacy. It is important to plan for the future of your company in order to ensure that the business stays true to your vision and mission. Prepare for your company’s success and succession with legal counsel from a Maryland business planning lawyer. For information some of the ways you can protect your business even after death, consult with a Maryland trust and estates lawyer today.
Maryland Business Planning Attorney: Grow and Protect Your Business
Establishing a successful business that weathers the challenges it faces takes more than luck. It takes strategic planning and preparation for the variables that can significantly impact the business.
Hiring a business planning lawyer in Maryland can help you put in place the legal directives that will allow you to create, build, and protect your business and its assets while you are involved in the company and after your time with the organization has come to an end.
From startup through disposition, our Maryland business planning attorneys can help you every step of the way:
- Business structure – incorporation, LLC, and LLP
- Debt and financing strategies
- Intellectual property concerns
- Acquisitions and mergers
- Buy-sell agreements
- Exit strategies
- Business transfer and succession planning
A successful business will outlive its founders, and careful business planning can help you create a business that becomes a legacy, establishing security for your beneficiaries for generations to come. Find out how we can help protect that legacy through effective business law strategies and solutions.
Business Succession Planning
Whether your business is a sole-proprietorship or a partnership, there will come a time that you are no longer involved with the business, whether that comes as a conscious decision to retire, step aside, or as a result of incapacity or death. Preparing for this eventuality is critical for maintaining the integrity of your business after you are no longer running it.
In both partnerships sole-proprietorships, the death or incapacity of a business owner can leave the business in turmoil if there is not a clear plan for the transfer or succession of the business. A Maryland business planning lawyer can work with you to outline a plan for succession.
- Transferring control of the company to a family member or trusted business associate
- Handing down the business through a will
- Establishing a business trust that runs the business according to your wishes if you become incapacitated
- Establishing a buy-sell agreement among partners
Buy-sell agreements are frequently used for partnerships to outline how the business is to continue when one partner leaves the business or dies. A business planning lawyer can work with you to draft a buy-sell agreement that stipulates who may buy the departing partner’s share of the business, what events may trigger a buyout, the value of the buyout, and how and to whom payments are made. Clearly defined buy-sell agreements can prevent arbitrary business decisions and partnerships that could destroy the business.
Business Law Representation: Maryland Business Planning Attorneys
Whether you are in the early stages of building a business, or whether you are seeking to secure the future of an established business, call now to speak with a Maryland business planning lawyer who can protect your personal and business interests now and in the future.