Family Business Hacks: Good Governance of the Next Generation
Children of business owners often face immense pressure when it comes time to inherit the family business. How can owners ensure the next generation is qualified to run the business? Denise O'Neill, coach, and president of The Alternative Board, recommends assessing the interests and strengths of the next generation, encouraging them to get an education, and making sure they have real-world experience. In this installment of Family Business Hacks, Denise talks to Offit Kurman attorney Mike Mercurio about how to successfully transition a business to the next generation.
ABOUT MICHAEL N. MERCURIO
email@example.com | 301.575.0332
Mr. Mercurio serves as outside general counsel to clients on matters related to corporate and business law, commercial transactions, government contracting, health care, construction services, and real estate. As a strategic partner to firm clients, Mr. Mercurio regularly counsels entrepreneurial individuals and assorted entities on all aspects of business and commerce including formation and structure; ownership, management and control; financing and capital; expansion and acquisition; sale and transfer; and contraction and dissolution. He is well versed in the various issues and challenges companies of all sizes and industries face in the business life cycle including start-up, maturation and end stage considerations.
ABOUT OFFIT KURMAN
Offit Kurman, a full-service AmLaw 200 law firm with offices throughout the East Coast and in Southern California, serves dynamic businesses, individuals and families. Founded in 1987, the firm’s 280+ attorneys counsel clients across more than 30 areas of practice. Offit Kurman helps maximize and protect business value and personal wealth by providing innovative and entrepreneurial counsel that focuses on clients’ business objectives, interests and goals. The firm is distinguished by the quality, breadth and global reach of its legal services and a unique operational structure that encourages a culture of collaboration.