- PROTECTION PLAYBOOK -
Protection For What Your Building
Business Assets Protected
Incredible Result: “No one can take what our Company has built.”
Avoidable Train Wrecks: Business disputes and litigation losses deplete your business resources.
Main Play: The Business Asset Protection System
What This Is: You have designed your business entity structure, and you have taken the specific actions needed, to help protect your Company’s proprietary rights, intellectual property, key personnel and key assets from existing and future competitors, litigation and potential claimants.
Owner Unity Protected
Incredible Result: “Our Owners will always get along. Period.”
Avoidable Train Wrecks: Avoidable co-owner disputes crush you.
Main Play: The Business Continuity Agreement
What This Is: Your Owners have agreed in advance to protect the critical unity between existing and future Owners with a dividend protocol, retirement guidelines, dispute resolution process, conflict of interest policy, Board of Director decision policy, tax decision process, and key person insurance.
Ownership Protected
Incredible Result: “We will have only the right Owners at all times.”
Avoidable Train Wrecks: Company ownership is not correctly controlled or funded with the right buy-sell-hold options.
Main Play: The Company Buy-Sell Agreement
What This Is: Your Owners have agreed to help protect ownership with transfer restrictions and specific, realistic pricing, proper life insurance funding and payment terms for share purchase upon each Owner’s death, disability, divorce, departure or dispute, with bring-along rights if the majority Owner decides to sell the Company.
Leadership Team Protected
Incredible Result: “Our Leadership Team sees our Company as the best place to achieve their personal and career aspirations.”
Avoidable Train Wrecks: Leadership team members leave to find better opportunities elsewhere.
Main Play: The Leadership Recognition and Reward Program
What This Is: You have deployed a recognition and reward program with your Leadership Team which earns their loyal performance, addresses their personal and career (leadership and ownership) aspirations, incents them to stay with you and helps to protect them and their families
Leader Continuity Protected
Incredible Result: “If I go down unexpectedly, our Company won’t.”
Avoidable Train Wrecks: Company hits the skids if CEO/President is lost unexpectedly by illness, accident or death.
Main Play: The Emergency Succession Plan
What This Is: You have groomed and designated a specific successor to step in immediately if you should die or be disabled unexpectedly. You have created pre-written approvals, a stay bonus program, and notifications to impacted persons which very clearly demonstrate the strength of your Company without you.
Personal Investments Protected
Incredible Result: “No one can take what our Family has built.”
Avoidable Train Wrecks: Personal risk exposures deplete your personal resources.
Main Play: The Personal Limited Liability Company
What This Is: You have helped protect your personal investments from potential future business or personal lawsuits, accidents, creditor claims or divorce claims by carefully observing asset protection protocols and by transferring your personal investments into an asset protection entity.
Quick Facts
In our litigious, competitive society, others will often try (legally or illegally) to take the assets or wealth you have built or the key personnel you have developed. You can take certain steps, before troubles arise, to properly and legally minimize these risks. You don’t want to have to start over or try to recover in your Fourth Quarter if the unexpected (but often very predictable) happens to you.