Williams Parker recently published its sixth edition of “Requisite,” the firm’s thought-leadership publication offering insights on legal issues. The current edition focuses on succession planning for family businesses of all sizes. The publication includes an interview with Kenneth J. Feld, the Chairman and CEO of Feld Entertainment, Inc., the largest family entertainment company in the world. It also includes articles covering some of the emotional and technical challenges to creating a great succession plan such as leadership transitions and minimizing taxes—challenges facing nearly every family-owned business—an article reviewing unique issues faced by family agribusiness enterprises, and an article exploring the under-appreciated connection between Henry David Thoreau and his family’s business.
“Over the years, our attorneys have counseled many family-owned businesses. Irrespective of industry, size, or location, we have found several shared characteristics,” said Ric Gregoria, president of Williams Parker. “This edition of ‘Requisite’ shares some of our insights to help clients be among the 30 percent of family-owned businesses that survive the second generation, the 12 percent that survive the third generation, and the three percent that survive the fourth generation.”