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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:
- Structuring your venture – from sole proprietorships and partnerships to corporations and joint ventures
- Buying a business
- Shareholder agreements
- Commercial property purchases and leasing agreements
- Landlord/tenant matters
- Employment issues
- Reorganizing or selling your family business, and
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.
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.
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
Landlord / Tennant
- Lease negotiation and drafting
- 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.