Family-Owned Businesses

Williams Mullen provides the full spectrum of legal services to established family-owned businesses that are designed to facilitate their strategic growth and protect their valuable assets.

Drawing on our experience across multiple industries, we help family-owned businesses meet their long-term familial and business objectives by effectively navigating complex shareholder dynamics, succession planning, and other issues unique to such businesses. We also provide counsel on investments that can enhance their capabilities and profitability.

We are particularly adept in helping family-owned businesses maximize their value in advance of a sale process and provide comprehensive counsel prior to, during, and after a transaction.

Services

• Serve as outside general counsel providing a customized and streamlined approach to commercial contracts, entity formation and strategic planning, private equity and venture capital, tax, real estate, employment, immigration, employee benefits, executive compensation, and IP matters.
• Provide business succession planning legal services.
• Provide trust and estates planning and governance documents that complement estate plans.
• Advise on federal, state, and local tax matters, including choice of entity (S corp, C corp, partnership, or LLC).
• Advise on business structures, control techniques, and distribution of shares.
• Navigate family-shareholder/owner dynamics to promote sustainable, long-term value of the established family-owned business.
• Advise management teams on corporate governance matters unique to established family-owned businesses.
• Advise on strategic and commercial arrangements with vendors, suppliers, and others.
• Identify and advise on steps to develop and meet cash needs through debt, equity, or hybrid financings.
• Advise on the lease of real property owned by family members for the use of the business.
• Assist with incentive- and transaction-based programs for key executives and producers.
• Advise on and assist with the implementation and administration of Employee Stock Ownership Plans (ESOPs).
• Provide comprehensive employee benefit plan compliance services, including 401(k) plans, defined benefit pension plans, cash balance plans, health and welfare benefit plans, and non-qualified deferred compensation plans.
• Provide day-to-day human resources advice and counsel on employment policies; background checks; employment contracts; new hires; disability and pregnancy accommodation; leave of absence laws; discrimination, harassment, and retaliation; reductions in force (RIF); and terminations.
• Advise on areas of importance to potential investors and corporate acquirers, including independent contractor misclassification, Fair Labor Standards Act (FLSA) exemption misclassification, improper wage payments, and non-compete laws.
• Conduct I-9 audits to ensure compliance with applicable immigration law.
• Enhance the value of your family-owned business by helping you protect your business’s/product’s name with a registered trademark, ensure that any new inventions are properly documented and owned by your business, protect confidential information or trade secrets, and protect any intellectual capital created within the company.
• Provide counsel on the purchase and sale of businesses and other material transactions, such as asset acquisitions or sales.
• Help family-owned businesses obtain critical permits for their operations. Examples vary by industry, but include alcohol, health, food, and tobacco.
• Assist with securing various local tax and revenue licenses.