• The benefits of exit planning and succession planning are more than improving the prospects for a future sale at a good price.
• Closely held business owners that implement the Value Acceleration Methodology can expect to improve profits now and to free up more of their own time.

Succession and exit planning are critical steps that…

• When one partner fails to respond to a notice of breach from the other partner, the relationship may be so damaged that dissolution is required.
• Courts may apply the ‘not reasonably practicable’ standard in determining whether a business can continue in its present form.
• The ‘not reasonably practicable standard’ is incorporated in the partnership statutes

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• Exit planning describes the process of preparing a closely held business for the exit of its owners at its maximum value. It is the preparation and implementation of a plan that maximizes the current and future value of the business. 
• Exit planners help owners understand the true value of their business today and what its

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• Arbitration agreements survive the termination of an underlying contract, unless the parties specifically terminate the arbitrate provision.
• In disputes involving closely held businesses, the arbitration agreement may be invoked even if the business is no longer in existence.
• Unless there is a specific agreement on the question of ‘arbitrability’ of a dispute, it is an

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• The application of a control premium more than doubled the claimed value of a business purchased its employees through and ESOP
• An investment banking firm involved in the transaction is subject to claims that it was biased because the fee it earned was contingent on the purchase price.
• The valuation firm that conducted the annual

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• An arbitration clause in a is unlikely to be enforceable against a beneficiary unless there was to consent to arbitrate; it is unlikely to be inferred from the will alone.
• An arbitration clause imposed as a condition of accepting the benefit of a trust is more likely to be enforced once the beneficiary has accepted

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• The fiduciary duties of loyalty and care may be different when a partnership is involved, rather than a corporation.
• The duties that shareholders in a corporation owe to each other are different than those owed in a partnership.  Shareholders have more discretion to consider their own interests first. 
• Understanding the duties owed by those in

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