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Family Business Perspectives Blog

Articles: 1-10 of 18

Will Your Family-Owned LLC Be Required to Pay the Fair Value of a Withdrawing Member’s Interest?

USA - July 13 2017 Family-owned businesses that are organized as limited liability companies typically reflect the terms of the company’s governance, along with the…

Do You Have an Enforceable Contract for the Sale of Family-Owned Business Interests or Just an Agreement to Agree?

USA - May 10 2017 Family members often transfer family-business ownership interests or other assets between each other. Their discussions sometimes progress from…

Massachusetts SJC Sends Reminder of Fiduciary Duties in Closely-Held Corporations

USA - May 4 2017 In a recent decision, the Massachusetts Supreme Judicial Court ruled that directors of a corporation owe a fiduciary duty to the corporation itself…

If You Expect to Work in the Family-Owned Business for Life, Be Sure to Get It in Writing

USA - April 27 2017 Family-owned businesses often employ multiple family members. Even if there is an expectation that employment will continue indefinitely, the company…

Pay Attention to Bylaws When Taking Corporate Actions

USA - April 25 2017 All too often, family businesses are run in an “informal” fashion, with insufficient attention being paid to corporate formalities, including…

Corporate Formalities Matter in the Transfer of Shares of Family-Owned Businesses

USA - April 18 2017 Shares in family-owned businesses are often transferred between family members, whether through a sale or gift during a shareholder’s lifetime or…

Are you paying your children too much to work in the family business? The IRS might think so.

USA - March 15 2017 A United States Tax Court recently issued a decision after trial that should serve as a reminder to management and controlling shareholders of…

Carefully Consider the Scope of Releases When Settling Claims between Family-Business Owners

USA - March 1 2017 Litigation among family-business owners often ends with a negotiated settlement agreement instead of a trial and entry of judgment on the parties’…

Do You Need to Do Business with Your Co-Owner’s Children?

USA - February 21 2017 Owners of closely-held businesses, including family-owned companies, often agree to restrict the owners’ ability to later transfer their ownership…

Watch out for Fraud in Family-Business Purchase Agreements

USA - February 9 2017 In business purchase agreements, including agreements between family members, the seller often retains pre-sale liabilities, such as tax liabilities…