What is Business Planning?
Business Planning is the process of analyzing the client’s prospective business or existing business, and determining the proper entity – whether that be a corporation, limited partnership, limited liability company, general partnership or sole proprietorship. The key issues in determining the proper business entity involved the short-term needs of the business, the long-term goals of the owners, and weighing those factors against the tax consequences and the complexities of the selective business entity. In Wyoming, many times business planning also involves succession planning, which involves buy-sell restrictions and a plan for transition of the business from one generation to the next.
Mergers and Acquisitions
Mergers and Acquisitions is a component of business planning, which involves buying and selling of whole businesses or parts of existing businesses. It also involves combining two businesses into one, splitting one business into two or more. Mergers and acquisitions involves a wide variety of legal disciplines, including but not limited to tax law, state business entity law, state and federal environmental issues, real estate law and in some cases, estate planning or succession planning.