When a founder leaves from a legal perspective?
In a world of venture capitalism, tech company selling, and Shark Tank; it is important to make sure that the transition is done well legally. Not too many founders and/or acquiring companies think the transitioning through regarding a founder leaving the company. When the founder of a business leaves, there are several legal considerations to keep in mind in order to keep the business going. And when we mean keeping the business going, we are taking about growth. As we all know, that if you aren’t growing, you are dying. Succession Planning: Having a plan in place for when the founder leaves can help ensure a smooth transition and minimize disruption to the business. This may include designating a successor, creating a buy-sell agreement, or establishing a board of directors. Review of Contracts: Make sure to review any contracts that the founder was party to and determine if there are any provisions that may be affected by their departure. Not too many times ...
Comments
Post a Comment