Business Succession Planning in British Columbia

Create Your Succession Plan Today!

Protect the integrity of your legacy with a strong business succession plan crafted by experienced lawyers. McQuarrie’s corporate and commercial lawyers can assist you with the legal decisions facing your family business.

We advise on matters such as:

Our business succession planning lawyers can assist nearly all types of businesses. We advise small-medium sized businesses across a wide range of industries such as land development, manufacturing, the trades, farming, retail and the professions.

Family Business Succession Planning

Strategic Planning

Running a successful family firm also presents unique challenges. Owners have to consider not only what is good for the business, but also what is good for the family.

Our strategic planning services are devoted to keeping your business healthy and sound into the future. Often, that means developing ownership agreements for the members involved in the business. These agreements are often crafted to allow liquidity options and provide a safe framework for disputes.

Please contact McQuarrie if you are interested in developing an ownership agreement for your business, or if you have any other strategic planning needs.

An ownership agreement provides answers to questions such as:

  • Which family members can own shares? For example: All family members? anyone employed by the business, or just senior management?
  • Who determines if dividends are paid, and when?
  • Who can participate in making major decisions such as buying other businesses or taking on debt?
  • How can a shareholder sell their shares, and to whom?

Working with your business advisers, our lawyers can help you design an effective ownership agreement.

Selling Your Business

If you are considering selling your business or bringing on third party investors, advance planning can add value to your business in a number of ways.

Disputes often break out during business sales because of poor planning or unclear responsibilities. Our business succession planning lawyers can help you craft the agreements that will make the sale of your business an orderly and profitable process.

Talk to McQuarrie about these and any other issues related to selling your business.

Business Succession Planning—Common Issues

Creating a succession plan is one of the more challenging projects a family business can undertake. These plans address the needs of the senior generation for financial security as they enter retirement, while ensuring that sufficient funds will be left in the business to keep it viable and competitive as the younger generation takes the reins.

You can expect to face challenges related to…

Buying a business

  • Negotiating the letter of intent
  • Due diligence
  • Purchase and sale agreements
  • Commercial financing

Employer / employee

  • Employment agreements
  • Accommodation issues
  • Discrimination claims
  • Dismissals

Landlord / tenant

  • Lease negotiation and drafting
  • Collections
  • Lease terminations

Working in coordination with our clients’ tax advisors as well as lawyers from our own Wills, Estates and Personal Planning department, the lawyers at McQuarrie can help you create an effective succession plan and ensure a smooth transition.

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