Please join us in congratulating Paul Rushton, the Chair of our Business & Finance Department, who was recently re-appointed and commissioned by the Secretary of the Commonwealth of Pennsylvania to serve as a member of the Corporation Bureau Advisory Committee. … Read more
Our own Paul T. Rushton and Sean-Tamba Matthew of SES ESOP Strategies presented a seminar titled “Tale of the Tape – Comparing and Contrasting the Business Transition Options (ESOPs, Management Buy-Outs, and Third-Party Sales) for Closely-Held Business Owners” at yesterday’s … Read more
As part of the negotiation of the terms and conditions that will govern the sale of a business, the selling party should develop and implement a strategy for obtaining a “market” deal (i.e. a deal that includes standard terms and … Read more
Despite the fact that Pennsylvania’s Home Improvement Consumer Protection Act (HICPA) has been in effect for over a decade, some home improvement contractors are still reluctant to fully address HICPA’s contractual rules due to their fear that homeowners will be … Read more
The lawyers in our Business & Finance Department frequently counsel closely-held business owners who are approaching retirement about the options available to them. This advice includes consideration of the succession planning techniques that are available to a closely-held business owner … Read more
By Paul T. Rushton, Esq.
The sale of a closely-held business is typically one of the most important and stressful events in a business owner’s life. The dual challenge of addressing the requirements of selling a business while continuing to … Read more
The withdrawal of an owner of a closely-held business should be carefully addressed by the remaining owners of the business to ensure that all outstanding issues between the parties are resolved. In addition to properly structuring and effectuating the purchase … Read more
Section 8834(a) of the Pennsylvania Revised Uniform Limited Liability Company Act, which became effective in 2017, provides that a member of a limited liability company … Read more
A business owner that has been approached about selling his or her business is oftentimes asked to sign a Letter of Intent or another document evidencing the acquirer’s preliminary expression of interest in purchasing the business (an “Expression of Interest”). … Read more
The owner of a vehicle should have a tune-up performed on his or her vehicle on an annual basis to ensure that it continues to perform well. Similarly, the owner of a Pennsylvania corporation must attend to the corporate records … Read more