Legal Blog

Family Business Hacks: Good Governance of the Next Generation

Children of business owners often face immense pressure when it comes time to inherit the family business. How can owners ensure the next generation is qualified to run the business? Denise O'Neill, coach, and president of The Alternative Board, recommends assessing the interests and strengths of the next generation, encouraging them to get an education, and making sure they have real-world experience. In this installment of Family Business Hacks, Denise talks to Offit Kurman attorney Mike Mercurio about how to successfully transition a business to the next generation.

ABOUT MICHAEL N. MERCURIO

Mike-Mercurio (1)

mmercurio@offitkurman.com | 301.575.0332

Mr. Mercurio serves as outside general counsel to clients on matters related to corporate and business law, commercial transactions, government contracting, health care, construction services, and real estate. As a strategic partner to firm clients, Mr. Mercurio regularly counsels entrepreneurial individuals and assorted entities on all aspects of business and commerce including formation and structure; ownership, management and control; financing and capital; expansion and acquisition; sale and transfer; and contraction and dissolution. He is well versed in the various issues and challenges companies of all sizes and industries face in the business life cycle including start-up, maturation and end stage considerations.

ABOUT OFFIT KURMAN

At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we focus on furthering our clients’ objectives and provide timely services and within budget, all while focusing on the clients’ interests and goals.

Offit Kurman is one of the fastest-growing, full-service law firms in the United States. With over 230 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well-positioned to meet dynamic businesses' needs, as well as the needs of the people who own and operate them. We also provide representation of individuals and families in diverse matters ranging from estate planning and asset protection to intellectual property structuring and entrepreneurial start-ups. Our International Group provides clients with a broad range of services for transactions and dispute representation for clients worldwide, including Europe, Canada, Asia, Latin America, the Middle East and Africa.

At Offit Kurman, we distinguish ourselves by the quality, breadth, and global reach of our legal services — as well as our unique operational structure, which encourages a culture of collaboration and entrepreneurialism. The same approach that makes our firm attractive to legal practitioners interested in representing clients in the middle market, also gives clients access to experienced counsel in almost every area of the law and in many jurisdictions in the U.S. and abroad

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