Topic
Business Succession
Family-internal or external succession, the five-year lead time and preserving the company beyond the handover — the human side of the transaction, properly planned.
Successful Sale of J. Klausner's Company
The Klausner family was looking for a succession plan, as Edwin Klausner, the former sales manager, intended to retire at the end of 2022.
Brands, Designs, Know-How, and More—The Heart of the Franchise Agreement
A franchise agreement is a special type of distribution agreement. A key contractual obligation of the franchisee is the payment of the franchise fee. This often consists of a one-time entry fee for access to the franchise system and the transfer of the necessary know-how, as well as the regular payment of a royalty for the use of intellectual property rights such as trademarks, designs, patents, copyrights, trade names, and the franchisor’s know-how. Franchisees should have a clear understanding of how they are permitted to use and are required to protect the franchisor’s know-how and intellectual property rights. This is because a breach of these contractual obligations can result in substantial claims for damages against the franchisee.
What Matters Most in the Skilled Trades During Generational Transition
According to surveys, about 47% of owners of small craft businesses plan to retire from the workforce within the next ten years. This corresponds to more than 125,000 businesses, for many of which a suitable succession plan will need to be found during this period.