Deciding to close or end your association with a business is never a straightforward process. In fact, a prudent exit strategy requires authoritative legal advice to help you avoid any outstanding liabilities and to ensure that the process is as a profitable as possible for you.
Oratto's member commercial solicitors include many who are experts in all aspects of succession planning and can help you make the right choices so that both you and your business thrive even after your exit or retirement.
However, early stage planning is key to successful succession planning, so contact Oratto today to begin the process as soon as possible.
Consider your financial rights
Foremost among your exit strategy considerations should be the future wealth and security of you and your family.
As such, you should receive legal advice regarding your superannuation entitlements and your rights in relation to any ownership, partnership and equity agreements.
Although you will be leaving the company, it can bring great peace of mind to know that it is in safe hands. As such, you can help provide for the firm's future by ensuring the continuance of its brand, culture, structure and financial arrangements.
The key to this is to build positive relationships with those around you and to ensure that these represent a solid investment in the future of the firm. This can help ensure that your qualities continue to serve the firm even after you have gone.
Instil confidence in clients for a smooth transition
Helping to prepare and preserve your client base is key to a successful transition. This is most easily done if your clients are prepared early so that they have adequate time to adjust to any necessary changes. Good communication is at the heart of this.
Ensure the right policy, procedure and structure
Ensuring the right policy, procedure and structural considerations can greatly assist in achieving a smooth transition. Whether this means preparing the ground for a restructure, merger or closing of the company will depend upon your interests and priorities. Whatever the case, it is best to seek advice from a commercial solicitor early so that you can prepare for the long-term.
Commercial solicitors for successful succession planning
Authoritative legal advice is key to a successful exit strategy.
Oratto's member lawyers work from locations across the country and can help you achieve your objectives in relation to smooth succession planning.
There are a number of ways to contact Oratto - by phone, an online chat or by filling in our Oratto Match form. Whichever way you choose, we will quickly and efficiently ensure you are put in contact with a member solicitor who is right for you.
Oratto member lawyers – always working with you.