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Showing 89 posts in Business Formation and Planning.
Problems and solutions in business succession planning, P.2
planning their exit from the company. We’ve already briefly discussed the importance of planning for a fitting successor, emphasizing that it is important to begin this process sooner rather than later. More >
Problems and solutions in business succession planning, P.1
As we’ve previously mentioned on this blog, business succession planning is critical in maintaining the strength and integrity of a business during and after changes of leadership. Experts in business planning say that businesses must start early to ensure they put together an intelligent strategy for succession. More >
Determining how to structure your family farm business, P.2
In our last post, we began looking at the issue of business planning within the context of a family farm business. We’ve already spoken about the importance of appropriately structuring a family farm business because of the potential tax consequences. Between the various forms of business structure, tax applications vary considerably. Although this is a big issue to plan for, here we’d like to talk briefly about the way structuring a farm business can impact ownership and management of a family farm. More >
Determining how to structure your family farm business, P.1
Regardless of the type of business you run, you need to put a well-thought-out business plan in place. Business planning covers all aspects of a business, from its legal structure, to marketing, to succession planning. Without putting a viable plan in place covering each important aspect of the business, companies are taking a risk. This applies as much to a family farm businesses as to multinational corporations. More >
Asset Purchase: Initial Considerations
A recent post discussed a few generalities on stock purchases and asset purchases. In a basic sense, the characteristics of a stock purchase and of an asset purchase will guide the parties in the earliest stages of negotiation over whether to structure the transaction as a stock or asset deal. This post and posts to follow will expand on certain aspects of both types of deals that the parties may face as negotiations progress, beginning with a few initial considerations for parties negotiating an asset purchase. More >
Give Thanks - And Think Of The Future
The holidays mean fun, feasts, festivities, and getting together with family and friends. They also pose the perfect opportunity to discuss important estate planning issues while everyone is together. There is no better time to talk about your wishes for the future than with loved ones around the table. This is especially true if family members live considerable distances from each other and only see each other a few times a year. More >
How can small business owners prepare for business succession?
Business succession planning is something every business owner needs to think about at some point, and the earlier the better. The need to come up with a viable plan to pass on one’s business is particularly important for small business owners who are alone responsible for passing on their business. Unfortunately, too many small business owners fail to take steps to come up with a transition plan, or do so too late. More >
What is Cyber Liability Insurance?
Last week, I discussed statistics from a recent survey conducted by the Ponemon Institute. The study found, among other things, that a staggering 43% of companies have experienced a data breach in the past year. With statistics like this one, it is no surprise that insurance companies are now protecting businesses from the losses sustained in a breach by offering cyber liability insurance. The financial burdens, reporting obligations, and need to update or secure a system after a breach can be devastating for a business. Cyber liability policies can be integrated into current risk management programs to address what could be a potentially crippling cyber liability claim. More >
Setting up a business in Kentucky
When it comes to setting up a business, it is important to put careful thought into the particular form the business will take. The business form one chooses affects various aspects of the business, including the personal liability of the business owners for company liabilities, the way the business and its owners are taxed, and how ownership works. More >
Ponemon Institute Finds Data Breaches Are Increasing - Are You Ready?
With the number of high-profile data breaches that have occurred recently (JPMorgan, Home Depot and Dairy Queen among the list), it should come as no surprise that the frequency of data breaches has increased. According to an annual study conducted by the Ponemon Institute (an organization which does independent research on privacy, data protection and information security policy), a staggering 43% of companies have experienced a data breach in the past year. This figure increased 10 percent in one year according to the Institute...and shows no sign of stopping. More >
