BGBG

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EveryMonth (Jan 2011): Planning for Succession in Business

The most common arrangements are;

Life policies that pay proceeds to surviving business owner(s) on death (and perhaps on critical illness).
Cross option agreements that give the surviving business owner(s) the right to buy the shares from the deceased’s family using the policy proceeds – a ‘Call Option’…

EveryMonth (Dec 2010): Who Shares Wins – Designing Simple and Effective Share Schemes for Private Companies

What makes a successful business? A great concept definitely, an entrepreneur with passion and energy almost certainly, but perhaps most important of all – a highly focused and motivated management team to drive it forward.

You don’t have to be a Dragon’s Den entrepreneur to conclude that an important way to achieve this is likely to be by providing equity incentives to key team members…

EveryMonth (Nov 2010): Articles of Association – The Devil in the Detail

Articles of Association can be long or short form. Until recently, the norm was the latter – 5 or 6 pages setting out key issues and incorporating the statutory ‘Table A’ – a set of standard default Articles. For companies incorporated after October 2009, Table A was replaced by a simplified set of default Articles known as the Model Articles…

EveryMonth (June 2010): Selling Private Companies – The Legal Process

Buying a private company can seem deceptively simple: you can do it by completing a single-page form! But don’t be seduced by the idea of that ‘simple’ one-page form: because of the potential liabilities, private companies are rarely bought and sold on the basis of this alone. One of the first things to consider if you are thinking about acquiring a company is ‘due diligence’: investigating …

EveryMonth (May 2010): How should you handle a Shareholder Dispute?

If you are unfortunate enough to be involved in a shareholders’ dispute, legal issues are likely to be only part of the mix, especially if yours is a family business. You need advisers who are sensitive about both the business and people issues and take these into account in finding a workable solution…

EveryMonth (Feb 2010): Are Shareholder’s Agreements a Good Idea?

You’ve made the decision – you’re really going to set up your own business. You’ve taken advice, and it seems the best way forward for you and your team is to create a limited company. Do you need a shareholders’ agreement?

Actually, a better first question for the entrepreneur is, “Should I retain 100% ownership?”…