Call: 301.296.4445

I'm starting a new business I need help running my business Wills & Estate Planning

What unique factors must be considered when forming a business with family members?

 

A:

it is important to consider how to address multiple issues that commonly confront such ventures.  Primarily, prospective owners should determine how:

  • The business' interests will be allocated between family members and if there will be non-family owners;
  • To ensure that business decisions are taken for business, rather than personal reasons;
  • The roles and responsibilities will differ between active owners and passive investors;
  • To resolve disputes in an impartial arms-length manner;
  • To avoid resentment when deciding succession issues;
  • To ensure that the family's finances aren't entirely dependent on the business.


©2012 The Kramer Law Firm LLC, All Rights Reserved, Reproduced with Permission Privacy Policy
Attorney web design by Foster Web Marketing, the best attorney website design solution on the Web offering search engine optimization for attorneys, lawyer website design, video for attorneys, and more.
Get SEO Tips from The Attorney Internet Marketing Blog


The Kramer Law Firm LLC represents small business clients throughout Washington, D.C. and Montgomery and Prince George's Counties in Maryland, including the communities of Bethesda, Bowie, Chevy Chase, Gaithersburg, Germantown, Laurel, Potomac, Rockville and Silver Spring and all of the surrounding areas.

TERMS OF USE

The information provided in The Kramer Law Firm web site is offered purely for informational purposes. It is not intended to create or promote an attorney-client relationship, and does not constitute and should not be relied upon as legal advice. We intend to make every attempt to keep this information current. We do not promise or guarantee, however, that the information is correct, complete or up-to-date, and online readers should not act based upon this information without seeking professional counsel from an attorney admitted to practice in your jurisdiction.
 
Transmission of information from The Kramer Law Firm web site is not intended to create, and its receipt does not constitute, an attorney-client relationship with The Kramer Law Firm or any of its individual attorneys or personnel. If you elect to communicate with the firm through this web site, do not transmit any information about any matter (and particularly not any confidential information) that may involve you until The Kramer Law Firm LLC has agreed to represent you, and you have received confirmation of that fact in the form of a written engagement letter executed by a member of the Firm.