Business Succession Planning
Project Description
Well-arranged and successful business succession requires a broad and diverse knowledge base in various areas of law. Therefore, in addition to company law considerations, it is sometimes necessary to address issues concerning inheritance and civil law. In cases with cross-border elements, the application of international conflict rules must also be taken into account. The present research project is intended to address the options available in company law in relation to company succession. In this context, the various results which may be achieved using a company's articles of association or similar contractual agreements will be examined in detail. In addition, alternative structures which may be used for the purpose of intergenerational wealth transfer will also be explored. The aim of this project is to present the opportunities and limitations in relation to business succession structuring by means of comparative law research and through publications thereby provide courts and practitioners with specific reference points when lacunae in the law and issues surrounded by legal uncertainty arise.
Relevance to Liechtenstein
The present research project is intended to make a practical and important contribution towards planned and future business transfers. Making reference to the legal systems of neighbouring countries should enable a solution suited to the specific feature of the Liechtenstein system to be developed, with which the transfer across generations will be considerably easier. The Liechtenstein economy, in particular, will benefit from well-arranged business succession, which can often be extremely difficult to achieve due to the complexity involved, the interplay of a variety of legal fields (for example, contract law, inheritance and family law, company law, tax law, conflicts of law) and business aspects.
