Shareholder Jason Levine and associate Kyle Victor will be panelists for a discussion on “Managing Transitional Events Among Family-Owned Companies: What If the Principals Disagree?” on September 18, 2025. Curt Golkow, founder of Golkow Business Law LLC, will also be part of the conversation, which is being hosted by the Estate and Financial Planning Council of Southern New Jersey.
As family-owned businesses transition to the second and third generations, most try to ensure that the business relationships remain cohesive, positive, and focused on the business’ long-term growth and sustainability. That is always the goal, but not always the reality. As millions of baby boomer-owned companies approach transitional events, there will inevitably be disputes among the next generation of owners. Some members of the second and third generations may want to sell the business, while others may want to keep the business in the family, and still others may want to maintain passive ownership but hire others to manage the business. Difficult interpersonal dynamics might also come into play. Presenters will explain what happens when principals do not share the same vision about the future of the company. This includes exploring owners’ potential rights (e.g., right to information, right to sell interests, right to manage); the company’s and its principals’ duties to all owners; and best ways to protect clients, whether they be minority interest-holders, directors and officers, or the company itself. The presentation will provide an overview of how these disputes play out – from prelitigation correspondence and strategizing to litigation or arbitration and ultimately to resolution.
