Easy access to crucial business information for design professionals
Item #: 350-4817-02
ISBN: 0-471-43481-7
ISBN13: 978-0-471-43481-8
Author: Peter Piven Publisher: John Wiley & Sons Format: Paperback
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The majority of architecture and design firms employ fewer than ten people. As with any small business, the owner/principal of these firms must make plans for all of the eventual transitions that will impact the practice and any or all of the people therein. This book in the Professional Practice Essentials Series offers comprehensive advice on the subject, specifically tailored to the practicing design professional. Here, a noted consultant who specializes in architecture firm management addresses a host of vital transition issues, including growth, expansion, management changes, internal transitions, mergers, acquisitions, liquidations, retirements, and much, much more. 208 pp.
Architect's Essentials of Ownership Transition - Table of Contents:
Foreword
Acknowledgments
Part 1: Introduction
What Is Ownership Transition?
Why Is Ownership Transition Necessary?
Part 2: Ownership Transition Options
Internal Transfer
Bring in a Leader
Merger
Acquisition
Employee Stock Ownership Plan (ESOP)
Liquidation
Part 3: Determining Candidate Selection Criteria and Communicating
Founders Expectations
What Do Owners Contribute to Firms?
Candidate Selection Criteria
Communicating Expectations to New Owners
Part 4: Valuing the Firm: How Much Is It Worth?
What Is Value?
How Is Value Determined?
Components of Valuation
Purposes of Valuation: How Valuation Is Used in the Ownership
Transition Process
Determining Value
Methods of Determining Value
Extenuating Circumstances and Exceptions
Part 5: Making the Purchase Affordable: Ownership Transfer Mechanisms
After-tax Transaction for Stock
After-tax Stock Purchase Plus Compensation Exchange Method
Deferred Compensation Method
Owner Transfer for Partnership or Limited Liability Companies
Zero-based Transfer
Part 6: Designing the Ownership Transition Program
Important Considerations
Part 7: Getting the Ownership Transition Program Started
Assembling the Team
Laying the Foundation
Designing the Program
Evaluating Candidates
Establishing a Rate of Transition
Deciding on the Terms
Documenting the Program
Next Steps
Part 8: Documenting the Ownership Transition Program
Offering Memorandum
Stock Purchase Agreement
Secured Promissory Note
Security Agreement
Stockholder Agreement
Indemnification Agreement
Deferred Compensation Agreement
Employment Agreement
Why Is Spousal Consent Required for Some Program Documents?
Ownership Transition Documents for Organizations Other Than
Corporations: Partnerships and Limited Liability Companies
Architect's Essentials of Ownership Transition
