The Coronavirus Pandemic is forcing business owners to reexamine their business planning strategies. This process was complex before the disruption, but now it is more critical than ever for business owners to have their vendor contracts, leases and loan documents reviewed to identify risks and threats to their businesses. Lessons learned from the COVID-19 crisis can be used to protect the value of businesses. By updating and fine-tuning these legal documents, businesses will be equipped for an unexpected death or disability of a key business owner or employee.

Whether you are exploring options to grow, sell or transition your company to strategic buyers, employees, or family members, start with reading the attached article. As your business attorneys, we are poised to help you achieve the best possible outcome by being proactive now. We will guide you through developing a well thought out business succession plan. As the economy reestablishes itself, you will be ready to move forward in a productive way to meet the new processes and requirements sought by investors and buyers.

The attached article is co-authored by Pabian & Russell’s Managing Partner, Jay Pabian along with the other members of the Exit Planning Institute’s Greater Boston Chapter Leadership Committee.  Please click the link to read the full article: COVID-19: What Business Owners Should Be Doing Now

To learn more or discuss your specific situation, please contact Jay at jpabian@pabianrussell.com.