When you look at a child, you need to consider if they have management capabilities to run the company. Keep in mind, management and ownership are two different roles. Should you consider if the staff can do a management buyout? If the company is large enough, can you go public? Will your competitors start marketing that your heir has no management skills therefore customers should leave the company to go to a competitor?
This article are provided for information purposes only, and are not intended as legal advice.
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