If the business is to survive, planning for succession is essential!
Just 30 percent of family businesses survive to the second generation, 12 percent to the third and three percent to the fourth, according to the Institute for Entrepreneurial Excellence at the University of Pittsburgh's Katz Graduate School of Business.
At Fox, we have a long tradition of representing both family owned businesses and privately held companies. For both types of entities, the relationship among current owners and employees and the next generation of leaders is critical to the success of the business.
We serve as trusted advisers to owners, family members and management. Our attorneys weave family and business concerns together to provide a comprehensive package of legal services related to succession planning designed to position the company and its individual members for success.
Our attorneys work closely with clients to identify and resolve sensitive intergenerational issues and conflicts with the goal of helping clients understand what it ultimately takes to keep a business in the family.
We tailor our services to meet the unique needs of these types of companies, helping to facilitate constructive and open dialogue and build consensus among various members toward amicable resolutions. Our goal is to help clients achieve their economic goals and ensure business continuity.
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