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Ask the Expert – How To Grow a Company Beyond $10 Million
M&A Talk (Mergers & Acquisitions), by Morgan & Westfield
Flexibility Prevents Pitfalls
Careful planning with competent counsel is essential to navigate complex ownership structures, especially in community property states where spouses may have claims to business ownership. Anticipating future changes and ensuring flexibility in incentive plans is crucial, as shifts in corporate structure, such as being acquired by a different firm, can jeopardize employee equity ownership. For instance, an Employee Stock Ownership Plan (ESOP) is difficult to reverse and requires unanimous consent from all stakeholders, making it a cumbersome option for potential buyers. Thus, proactive legal counsel can help businesses mitigate risks and adapt to unforeseen circumstances effectively.
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