Approximately 80% of today’s privately held companies will not survive into the next generation of family ownership. The failure to establish a comprehensive succession plan is a leading cause of this phenomenon.
Calfee helps privately held companies prepare and transition to the next generation of owners and managers. Our corporate, tax, and estate planning attorneys provide individualized, innovative solutions to corporate succession issues that increase survival opportunities, ensure estate liquidity, address family issues, and maximize planning flexibility.
Every successful, privately held business needs a corporate succession plan. Even if the business is young, or the next generation has not stepped forward, a succession plan should be implemented in order to avoid the hardships of an unplanned transition or worse, a government-dictated disposition.
A good corporate succession plan is a flexible plan that changes as the circumstances of the business and its owners change. The cornerstone of a good corporate succession plan is business survival.
At Calfee, we work with business owners to help them understand succession options and to implement a plan that best accomplishes their goals and best meets the needs of their families.
After the initial plan has been put in place, our continuing relationship with clients enables us to recommend appropriate responses to changing business or family circumstances.
Chambers USA 2022 Band 2 Ranking in Corporate/M&A – Ohio: North
For more than a decade, Calfee has been ranked for Corporate/M&A – Ohio by Chambers USA. Chambers USA commentators noted Calfee's Corporate and Finance practice "Draws from an impressive statewide team with a strong track record across a broad range of corporate and transactional matters, acting on behalf of public and private businesses and financial institutions. Areas of excellence include M&A, securities offerings and private equity and venture capital fund formation."
U.S. News – Best Lawyers® “Best Law Firms” Rankings
Calfee was selected for inclusion in the 2023 "Best Law Firms" rankings by U.S. News – Best Lawyers in the following areas:
Succession Planning Analysis
Succession Techniques
Calfee's Corporate and Finance practice "draws from an impressive statewide team with a strong track record across a broad range of corporate and transactional matters. Areas of excellence include M&A, securities offerings and private equity and venture capital fund formation."
Researcher comments from Chambers USA
