Governance & Succession Planning

Planning the Operation and Future of Your Business

Business governance is the way in which a company structures its management, administration, and control, as well as the way in which it defines the relationship between owners, managers and other key personnel. 

Having been a successful business owner for 18 years, I understand the business reasons for taking a proactive approach to corporate governance. As an attorney, I advise clients as to how a proactive approach to business governance can limit their exposure to disruptive and expensive litigation and allows them to focus on the success of their company.

Please see my Articles page to learn more about my approach to business governance or call me at (973) 921-0600.

Establishing governance and planning for succession

I advise businesses, as well as their owners, operators, and key personnel on current and potential business governance issues, including:

• Defining the role, power, and duty of owners, directors, officers, managers, and key personnel in the decision-making process,
• Structuring oversight and verification controls,
• Delineating and managing the liability of directors, officers, and managers,
• Allocating and distributing profits and losses,
• Planning for succession, including business continuation by family members or key employees,
• Addressing contingencies for life-cycle and major events (death, disability, divorce, etc.) affecting owners and key personnel,
• Establishing procedures to oust or admit owners, members, and partners, and
• Facilitating expansion of the business through asset acquisition and debt and equity financing.

Preparing agreements

Clear, thoughtful, comprehensive written agreements and instruments are vital to addressing the areas of governance and succession and to avoiding the burden and expense of litigation. I review, evaluate, negotiate, draft, and prepare a wide range of governance and succession agreements and instruments, including bylaws, shareholder agreements, operating agreements, and partnership agreements. Understandable, enforceable agreements and instruments help ensure that business owners and operators will be able to maintain and transfer ownership and control of their companies in an orderly fashion. Without such agreements and instruments, the default rules established by law will dictate how governance and succession matters will be resolved. There is no assurance that the scheme established by the default rules will coincide with the goals of the business owner or avoid costly disputes and lawsuits.

For more information about all types of business governance agreements, please see my Articles page. I also invite you to contact my Short Hills, New Jersey law office to discuss your plans.