In a corporate successor of the successor takes over an existing and functioning company and continued running. In this case, the corporate successor of beginning his entrepreneurial skills to the test: Its mission is to, to ensure the future competitiveness of the company, continue to satisfy existing customers, to gain new customers and to secure jobs in the company. Not an easy matter. For the great advantages of a corporate succession only come into play, if the successor company brings self-determined conditions.
Consulting business succession
A business succession is no small thing, typical questions should be reviewed and responded to:
- What form of Underwriting Agreement (Purchase, Lease, Donation agreement)?
- What are the legal obligations to acquire all rights and obligations under existing employment contracts of?
- What are the legal obligations to take over the responsibility for (Old) Liabilities from?
- What are the legal obligations to take over the responsibility for operational control of?
- What are the legal obligations for implementation for warranty- and warranties?
- How to make a realistic enterprise value and price to determine?
- How can the purchase price will be financed?
- How should the transfer phase are designed?
Typical succession problems are especially the following:
- The purchase price is not appropriate
- Let the price offered in each case by external experts (u.a. Association, Chamber, Auditors, Management consultant) check.
- Financing and business plan not thoroughly prepared
- Here, the course is set incorrectly, jeopardize the entire enterprise. Insofar expert advice must be involved as early as possible..
Planning of succession
A business succession is planned on the basis of an existing company. The successor to an accurate picture of the actual state of the company must therefore make it and so his ideas about the target state building the future development of the company, work out.
The idea, to take over a company and then rest on the laurels of its predecessor, is not realistic. To remain competitive, The company has to develop under your leadership further. Continue reading “Business succession, Planning of succession and valuation of companies”