Tag Archives: record

Criminal Record

In today’s fast-paced business world, it is more important than ever for business owners and executives to understand the implications of a criminal record. Whether it is a charge related to fraud, embezzlement, or any other criminal offense, the consequences can be severe and far-reaching. As a knowledgeable criminal defense attorney, I am dedicated to helping businesses navigate the complexities of the legal system and protect their reputation. With years of experience representing businesses and their owners, I have successfully handled a wide range of criminal cases, providing personalized and strategic defense. My expertise in this area of law allows me to effectively guide my clients through the legal process, offering peace of mind and protecting their best interests. If you or your business are facing criminal charges, do not hesitate to contact me for a consultation. Together, we can tackle these challenging legal matters and ensure the best possible outcome for your future.

Criminal Record

In today’s society, understanding criminal records and their implications is crucial. A criminal record refers to an individual’s documented history of criminal offenses, including arrests, convictions, and even dismissed charges. This comprehensive article will provide an in-depth exploration of criminal records, including the types of records, the consequences of having a criminal record, the process of expungement, and the benefits thereof. By gaining a comprehensive understanding of these topics, you can make informed decisions and seek legal guidance appropriately.

Criminal Record

See the Criminal Record in detail.

Understanding Criminal Records

Criminal records serve as a permanent record of an individual’s involvement with the criminal justice system. These records are maintained by the law enforcement agencies and court systems, allowing them to provide accurate information regarding an individual’s criminal past. It is essential to note that criminal records are accessible to the general public, including potential employers, landlords, and educational institutions.

Types of Criminal Records

There are various types of criminal records, each containing specific information that paints a comprehensive picture of an individual’s criminal history. These records may include details about arrests, charges, convictions, and even sentencing. It is important to consult with a legal professional to understand the specific types of records that apply to your situation.

Discover more about the Criminal Record.

Consequences of Having a Criminal Record

Having a criminal record can have significant consequences that extend far beyond the initial offense. Individuals with criminal records may face challenges in various aspects of their lives, including employment, housing, and education opportunities. Potential employers, for example, may view a criminal record as a barrier to hiring, leading to difficulties in securing meaningful employment.

Expungement of Criminal Records

Expungement offers individuals with a criminal record an opportunity to clear their record, providing a fresh start and a chance to rebuild their lives. Expungement is a legal process that allows qualifying individuals to have their criminal records sealed or removed from public view. It is important to note that the eligibility criteria and the expungement process may vary depending on the jurisdiction and the nature of the offense.

Criminal Record

Process of Expungement

The process of expungement typically involves filing a petition with the appropriate court and presenting evidence of eligibility. This evidence may include demonstrating good conduct, completing rehabilitation programs, and showcasing positive contributions to the community. It is essential to consult with an experienced attorney who specializes in expungement to ensure a smooth and successful process.

Benefits of Expungement

Expungement offers several benefits to individuals seeking a fresh start. Firstly, expungement can improve employment prospects by allowing individuals to truthfully answer “no” when asked about prior convictions, as those records are sealed or removed. This can significantly increase the chances of obtaining gainful employment and starting anew. Additionally, expungement provides individuals with a renewed sense of personal and professional opportunities, granting them the ability to overcome the stigma associated with a criminal record.

Effect of Expungement on Employment

Expungement can have a positive effect on employment prospects. With a cleared criminal record, individuals have a greater chance of securing employment as potential employers will no longer have access to their prior convictions. This opens up new doors and expands opportunities for personal and professional growth.

Effect of Expungement on Housing

A criminal record can often be a barrier to securing housing. Many landlords conduct background checks on potential tenants, and a criminal record may lead to denial of rental applications. Expungement can help alleviate this burden by sealing or removing the criminal record, allowing individuals to move forward and seek housing without the added stigma.

Criminal Record

Effect of Expungement on Education

Having a criminal record can impact an individual’s ability to pursue higher education. Many educational institutions conduct background checks on applicants, and a criminal record may result in denial or limitations on enrollment. By obtaining an expungement, individuals can increase their chances of accessing education and pursuing their academic goals.

Common Misconceptions About Expungement

There are several common misconceptions surrounding the process of expungement. One misconception is that expungement erases a criminal record entirely. While expungement seals or removes the record from public view, it may still be accessible to certain entities under specific circumstances. Another misconception is that expungement is a simple process that can be done without legal assistance. In reality, the expungement process can be complex, and it is advisable to consult with an experienced attorney to navigate the legal requirements successfully.

FAQs:

  1. Can I expunge all types of criminal records?

    • Eligibility for expungement depends on both the jurisdiction and the nature of the offense. It is essential to consult with an attorney to determine eligibility for expungement.
  2. How long does the expungement process take?

    • The length of the expungement process can vary depending on the jurisdiction and the complexity of the case. It is advisable to consult with an attorney to understand the estimated timeline.
  3. Will my criminal record be completely erased after expungement?

    • Expungement seals or removes the criminal record from public view, but it may still be accessible to certain entities under specific circumstances. However, it provides individuals with a fresh start and increased opportunities.
  4. Can I expunge a felony conviction?

    • Expungement eligibility for felony convictions differs among jurisdictions. Consulting with an attorney specializing in expungement will help determine eligibility based on local laws and regulations.
  5. How do I know if expungement is the right option for me?

    • Assessing whether expungement is the right option requires individualized legal advice. Consulting with an experienced attorney will help you understand the potential benefits and implications specific to your situation.

Remember, if you have a criminal record and you’re seeking a fresh start, consulting with an experienced attorney who specializes in expungement can provide invaluable guidance. By understanding the process, benefits, and potential eligibility for expungement, you can take the necessary steps towards a brighter future. Don’t let a criminal record define you—explore the possibilities of expungement today!

Click to view the Criminal Record.

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Business Lawyer Layton Utah

“Secure Your Business with Professional Legal Services from Business Lawyer Layton Utah”

Introduction

Business Lawyer Layton Utah is a law firm that specializes in providing legal services to businesses in the Layton, Utah area. Our team of experienced attorneys is dedicated to providing the highest quality legal advice and representation to our clients. We understand the complexities of business law and strive to provide our clients with the best possible legal solutions. Our attorneys have extensive experience in a variety of areas, including contract law, corporate law, intellectual property law, employment law, and more. We are committed to providing our clients with the highest level of legal service and are dedicated to helping them achieve their business goals.

The Benefits of Working with an Experienced Layton Business Lawyer

When it comes to running a business, there are many legal issues that can arise. From contracts to taxes, it is important to have an experienced Layton business lawyer on your side. An experienced business lawyer can provide invaluable advice and guidance to help you navigate the complexities of the legal system. Here are some of the benefits of working with an experienced Layton business lawyer.

1. Knowledge of Local Laws: An experienced Layton business lawyer will have a thorough understanding of the local laws and regulations that apply to your business. This knowledge can be invaluable when it comes to making sure that your business is compliant with all applicable laws.

2. Experience in Negotiations: An experienced business lawyer will have a wealth of experience in negotiating contracts and other legal documents. This experience can be invaluable when it comes to making sure that your business is protected and that you are getting the best deal possible.

3. Access to Resources: An experienced business lawyer will have access to a wide range of resources that can be used to help you with your legal needs. This includes access to legal databases, research materials, and other resources that can help you make informed decisions.

4. Expertise in litigation: An experienced business lawyer will have a deep understanding of the litigation process and can provide invaluable advice and guidance when it comes to resolving disputes. This expertise can be invaluable when it comes to protecting your business and ensuring that you get the best outcome possible.

Working with an experienced Layton business lawyer can provide you with the peace of mind that comes with knowing that your business is in good hands. An experienced business lawyer can provide invaluable advice and guidance to help you navigate the complexities of the legal system. With their knowledge of local laws, experience in negotiations, access to resources, and expertise in litigation, an experienced business lawyer can be a valuable asset to your business.

What to Expect During a Free Consultation with a Layton Business Lawyer

A free consultation with a Layton business lawyer is an important step in the process of protecting your business interests. During the consultation, you will have the opportunity to discuss your legal needs and ask questions about the services the lawyer can provide.

At the start of the consultation, the lawyer will ask you to provide a brief overview of your business and the legal issues you are facing. This will help the lawyer to understand the scope of your legal needs and determine how best to assist you.

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The lawyer will then explain the services they can provide and the fees associated with those services. This will help you to understand the cost of legal representation and make an informed decision about whether to proceed with the lawyer’s services.

The lawyer will also discuss the legal options available to you and provide advice on the best course of action. This will help you to make an informed decision about how to proceed with your legal matter.

Finally, the lawyer will answer any questions you may have about the legal process and provide additional information about their services. This will help you to make an informed decision about whether to proceed with the lawyer’s services.

At the end of the consultation, the lawyer will provide you with a written summary of the discussion and any advice they have provided. This will help you to remember the details of the consultation and make an informed decision about whether to proceed with the lawyer’s services.

When it comes to finding the right business lawyer for your legal needs in Layton, it is important to take the time to research and find the right fit for your business. A business lawyer can provide invaluable advice and guidance on a variety of legal matters, from contract negotiations to dispute resolution. Here are some tips to help you find the right business lawyer for your legal needs in Layton:

1. Determine Your Legal Needs: Before you begin your search for a business lawyer, it is important to take the time to assess your legal needs. Consider the type of legal services you require, such as contract review, dispute resolution, or business formation. This will help you narrow down your search and find a lawyer who specializes in the areas you need.

2. Research Potential Lawyers: Once you have determined your legal needs, it is time to start researching potential lawyers. Look for lawyers who have experience in the areas you need and read reviews from past clients. You can also contact the Utah State Bar Association for a list of qualified lawyers in your area.

3. Schedule a Consultation: Once you have narrowed down your list of potential lawyers, it is time to schedule a consultation. During the consultation, ask questions about the lawyer’s experience, fees, and availability. This will help you get a better understanding of the lawyer’s qualifications and determine if they are the right fit for your legal needs.

4. Ask for References: Before making a final decision, it is important to ask for references from past clients. This will give you an idea of the lawyer’s experience and how they handle cases.

By following these tips, you can find the right business lawyer for your legal needs in Layton. With the right lawyer on your side, you can rest assured that your legal needs will be taken care of.

All About Corporations, LLC, LLP, Family Partnerships and More

A corporation is a legal entity that is separate and distinct from its owners. It is created under state law and is owned by shareholders. The shareholders elect a board of directors to oversee the major decisions and policies of the corporation. The board of directors appoints officers to manage the day-to-day operations of the corporation.

A limited liability company (LLC) is a business structure that combines the limited liability of a corporation with the flexibility of a partnership. LLCs are owned by members, who can be individuals, other businesses, or a combination of both. LLCs are not subject to the same corporate formalities as corporations, such as holding annual meetings and keeping minutes.

A limited liability partnership (LLP) is a business structure that combines the limited liability of a corporation with the flexibility of a partnership. LLPs are owned by partners, who can be individuals, other businesses, or a combination of both. LLPs are not subject to the same corporate formalities as corporations, such as holding annual meetings and keeping minutes.

A family partnership is a business structure that combines the limited liability of a corporation with the flexibility of a partnership. Family partnerships are owned by family members, who can be individuals, other businesses, or a combination of both. Family partnerships are not subject to the same corporate formalities as corporations, such as holding annual meetings and keeping minutes.

No matter which type of business structure you choose, it is important to understand the legal and financial implications of each. It is also important to consult with a qualified attorney or accountant to ensure that you are in compliance with all applicable laws and regulations.

Understanding the Benefits of Working with a Business Lawyer in Layton, Utah

Working with a business lawyer in Layton, Utah can be a great asset for any business. A business lawyer can provide invaluable advice and guidance on a variety of legal matters, from contract drafting and review to dispute resolution and litigation. Here are some of the key benefits of working with a business lawyer in Layton, Utah.

1. Expertise: Business lawyers have a deep understanding of the laws and regulations that govern businesses in Utah. They can provide advice on how to comply with these laws and regulations, as well as how to protect your business from potential legal issues.

2. Cost Savings: Working with a business lawyer can save you money in the long run. A lawyer can help you avoid costly mistakes and ensure that your business is in compliance with the law.

3. Negotiation: Business lawyers are experienced negotiators and can help you get the best deal possible when negotiating contracts or resolving disputes.

4. Litigation: If your business is involved in a dispute, a business lawyer can provide representation in court and help you navigate the legal system.

5. Advice: Business lawyers can provide advice on a variety of topics, from business formation to tax planning. They can also provide guidance on how to structure your business for maximum efficiency and profitability.

Working with a business lawyer in Layton, Utah can be a great asset for any business. A business lawyer can provide invaluable advice and guidance on a variety of legal matters, from contract drafting and review to dispute resolution and litigation. With their expertise and experience, business lawyers can help you protect your business and maximize its potential.

Why You Should Hire Jeremy Eveland As Your Layton Utah Business Attorney

Jeremy Eveland is an experienced and knowledgeable business attorney close to Layton, Utah. He has been practicing law for many years and has focused his attention on business law. He is well-versed in the laws and regulations that govern businesses in the state of Utah, and he is committed to providing his clients with the best legal advice and representation possible.

Jeremy Eveland is an experienced litigator and negotiator. He has successfully represented clients in a variety of business disputes, including contract disputes, employment disputes, and internal disputes. He is also experienced in business transactions, such as mergers and acquisitions, and he is well-versed in the laws and regulations that govern business transactions.

Jeremy Eveland is a highly respected attorney in the Layton area. He is a member of the Utah State Bar Association and has years of experience, and he has been a speaker at legal education seminars in the past.

Jeremy Eveland is an experienced and knowledgeable business attorney near Layton, Utah. He has a deep understanding of the laws and regulations that govern businesses in the state of Utah, and he is committed to providing his clients with the best legal advice and representation possible. He is an experienced litigator and negotiator, and he is well-versed in business transactions. He is also a respected attorney near the Layton area, and he is a member of the Utah State Bar Association . For these reasons, you should hire Jeremy Eveland as your Layton Utah business attorney.

Areas We Serve

We serve individuals and businesses in the following locations:

Salt Lake City Utah
West Valley City Utah
Provo Utah
West Jordan Utah
Orem Utah
Sandy Utah
Ogden Utah
St. George Utah
Layton Utah
South Jordan Utah
Lehi Utah
Millcreek Utah
Taylorsville Utah
Logan Utah
Murray Utah
Draper Utah
Bountiful Utah
Riverton Utah
Herriman Utah
Spanish Fork Utah
Roy Utah
Pleasant Grove Utah
Kearns Utah
Tooele Utah
Cottonwood Heights Utah
Midvale Utah
Springville Utah
Eagle Mountain Utah
Cedar City Utah
Kaysville Utah
Clearfield Utah
Holladay Utah
American Fork Utah
Syracuse Utah
Saratoga Springs Utah
Magna Utah
Washington Utah
South Salt Lake Utah
Farmington Utah
Clinton Utah
North Salt Lake Utah
Payson Utah
North Ogden Utah
Brigham City Utah
Highland Utah
Centerville Utah
Hurricane Utah
South Ogden Utah
Heber Utah
West Haven Utah
Bluffdale Utah
Santaquin Utah
Smithfield Utah
Woods Cross Utah
Grantsville Utah
Lindon Utah
North Logan Utah
West Point Utah
Vernal Utah
Alpine Utah
Cedar Hills Utah
Pleasant View Utah
Mapleton Utah
Stansbury Par Utah
Washington Terrace Utah
Riverdale Utah
Hooper Utah
Tremonton Utah
Ivins Utah
Park City Utah
Price Utah
Hyrum Utah
Summit Park Utah
Salem Utah
Richfield Utah
Santa Clara Utah
Providence Utah
South Weber Utah
Vineyard Utah
Ephraim Utah
Roosevelt Utah
Farr West Utah
Plain City Utah
Nibley Utah
Enoch Utah
Harrisville Utah
Snyderville Utah
Fruit Heights Utah
Nephi Utah
White City Utah
West Bountiful Utah
Sunset Utah
Moab Utah
Midway Utah
Perry Utah
Kanab Utah
Hyde Park Utah
Silver Summit Utah
La Verkin Utah
Morgan Utah

Business Lawyer Layton Utah Consultation

When you need help from a Business Lawyer near Layton Utah call Jeremy D. Eveland, MBA, JD (801) 613-1472 for a consultation.

Jeremy Eveland
17 North State Street
Lindon UT 84042
(801) 613-1472

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Layton, Utah

About Layton, Utah

Layton is a city in Davis County, Utah, United States. It is part of the Ogden-Clearfield Metropolitan Statistical Area. As of the 2020 census, the city had a population of 81,773, with 2022 estimates showing a slight increase to 84,665. Layton is the most populous city in Davis County and the ninth most populous in Utah.

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The Utah Uniform Partnership Act

The Utah Uniform Partnership Act

The Utah Uniform Partnership Act

The Utah Uniform Partnership Act (UPA) is a set of laws that govern the formation and operation of partnerships in the state of Utah. The UPA is based upon the Uniform Partnership Act (UPA) of 1914, which was developed by the National Conference of Commissioners on Uniform State Laws. The UPA was adopted in Utah in 1936 and has been amended several times since then.

The UPA is designed to provide a framework that governs the rights and obligations of the partners in a partnership. It also outlines the general management and administrative responsibilities of the partners and their respective rights and duties.

The UPA provides a comprehensive set of rules that govern the formation, operation, and dissolution of partnerships. It outlines the rights of each partner in the partnership, as well as the duties of each partner to the partnership. The UPA also sets forth the procedure for resolving disputes among the partners.

The UPA contains a number of different provisions that are designed to protect the interests of the partners in a partnership. For example, the UPA outlines the fiduciary duties of the partners, which require them to act in the best interests of the partnership. The UPA also outlines the legal responsibilities of the partners, which require them to act in accordance with the partnership agreement.

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The UPA also addresses issues such as the transfer of ownership of the partnership assets, the distribution of profits and losses, the dispersal of partnership property upon dissolution, and the enforceability of the partnership agreement.

The UPA provides a number of remedies for breach of partnership rights. If one partner fails to comply with the terms of the partnership agreement, the other partners may seek compensation for any losses resulting from the breach. Additionally, if one partner fails to comply with the fiduciary duties of the partnership, the other partners may seek damages for any losses resulting from the breach.

The UPA also provides a number of other remedies for breach of partnership rights. For example, if one partner breaches the partnership agreement, the other partners may seek an equitable remedy, such as an injunction or a constructive trust. Additionally, if one partner fails to comply with their fiduciary duties, the other partners may seek equitable remedies such as an accounting or a constructive trust.

The UPA also provides a number of remedies for the enforcement of partnership rights. If one partner breaches the terms of the partnership agreement, the other partners may seek an injunction to prevent the breach from occurring. Additionally, if one partner breaches their fiduciary duties, the other partners may seek an injunction to prevent the breach from occurring.

The UPA is an important set of laws that provide the framework for the formation and operation of partnerships in the state of Utah. The UPA outlines the rights and obligations of the partners in a partnership, as well as the general management and administrative responsibilities of the partners. The UPA also provides a number of remedies for breach of partnership rights and for the enforcement of partnership rights.

Utah Partnership Lawyer Free Consultation

Call attorney Jeremy Eveland for a free partnership law consultation in Utah today (801) 613-1472. We look forward to serving you.

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Salt Lake City

From Wikipedia, the free encyclopedia
 
 
 
Salt Lake City, Utah
City of Salt Lake City[1]
Clockwise from top: The skyline in July 2011, Utah State Capitol, TRAX, Union Pacific Depot, the Block U, the City-County Building, and the Salt Lake Temple

Clockwise from top: The skyline in July 2011, Utah State CapitolTRAXUnion Pacific Depot, the Block U, the City-County Building, and the Salt Lake Temple
Nickname: 

“The Crossroads of the West”

 
Interactive map of Salt Lake City
Coordinates: 40°45′39″N 111°53′28″WCoordinates40°45′39″N 111°53′28″W
Country United States United States
State Utah
County Salt Lake
Platted 1857; 165 years ago[2]
Named for Great Salt Lake
Government

 
 • Type Strong Mayor–council
 • Mayor Erin Mendenhall (D)
Area

 • City 110.81 sq mi (286.99 km2)
 • Land 110.34 sq mi (285.77 km2)
 • Water 0.47 sq mi (1.22 km2)
Elevation

 
4,327 ft (1,288 m)
Population

 • City 200,133
 • Rank 122nd in the United States
1st in Utah
 • Density 1,797.52/sq mi (701.84/km2)
 • Urban

 
1,021,243 (US: 42nd)
 • Metro

 
1,257,936 (US: 47th)
 • CSA

 
2,606,548 (US: 22nd)
Demonym Salt Laker[5]
Time zone UTC−7 (Mountain)
 • Summer (DST) UTC−6
ZIP Codes
show

ZIP Codes[6]
Area codes 801, 385
FIPS code 49-67000[7]
GNIS feature ID 1454997[8]
Major airport Salt Lake City International Airport
Website Salt Lake City Government

Salt Lake City (often shortened to Salt Lake and abbreviated as SLC) is the capital and most populous city of Utah, as well as the seat of Salt Lake County, the most populous county in Utah. With a population of 200,133 in 2020,[10] the city is the core of the Salt Lake City metropolitan area, which had a population of 1,257,936 at the 2020 census. Salt Lake City is further situated within a larger metropolis known as the Salt Lake City–Ogden–Provo Combined Statistical Area, a corridor of contiguous urban and suburban development stretched along a 120-mile (190 km) segment of the Wasatch Front, comprising a population of 2,606,548 (as of 2018 estimates),[11] making it the 22nd largest in the nation. It is also the central core of the larger of only two major urban areas located within the Great Basin (the other being Reno, Nevada).

Salt Lake City was founded July 24, 1847, by early pioneer settlers, led by Brigham Young, who were seeking to escape persecution they had experienced while living farther east. The Mormon pioneers, as they would come to be known, entered a semi-arid valley and immediately began planning and building an extensive irrigation network which could feed the population and foster future growth. Salt Lake City’s street grid system is based on a standard compass grid plan, with the southeast corner of Temple Square (the area containing the Salt Lake Temple in downtown Salt Lake City) serving as the origin of the Salt Lake meridian. Owing to its proximity to the Great Salt Lake, the city was originally named Great Salt Lake City. In 1868, the word “Great” was dropped from the city’s name.[12]

Immigration of international members of The Church of Jesus Christ of Latter-day Saintsmining booms, and the construction of the first transcontinental railroad initially brought economic growth, and the city was nicknamed “The Crossroads of the West”. It was traversed by the Lincoln Highway, the first transcontinental highway, in 1913. Two major cross-country freeways, I-15 and I-80, now intersect in the city. The city also has a belt route, I-215.

Salt Lake City has developed a strong tourist industry based primarily on skiing and outdoor recreation. It hosted the 2002 Winter Olympics. It is known for its politically progressive and diverse culture, which stands at contrast with the rest of the state’s conservative leanings.[13] It is home to a significant LGBT community and hosts the annual Utah Pride Festival.[14] It is the industrial banking center of the United States.[15] Salt Lake City and the surrounding area are also the location of several institutions of higher education including the state’s flagship research school, the University of Utah. Sustained drought in Utah has more recently strained Salt Lake City’s water security and caused the Great Salt Lake level drop to record low levels,[16][17] and impacting the state’s economy, of which the Wasatch Front area anchored by Salt Lake City constitutes 80%.[18]

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Succession Planning

From Wikipedia, the free encyclopedia
 

Business succession planning[edit]

Effective succession or talent-pool management concerns itself with building a series of feeder groups up and down the entire leadership pipeline or progression.[6] In contrast, replacement planning is focused narrowly on identifying specific back-up candidates for given senior management positions. Thought should be given to the retention of key employees, and the consequences that the departure of key employees may have on the business.[7]

Fundamental to the succession-management process is an underlying philosophy that argues that top talent in the corporation must be managed for the greater good of the enterprise. Merck and other companies argue that a “talent mindset” must be part of the leadership culture for these practices to be effective.[8]

Organizations use succession planning as a process to ensure that employees are recruited and developed to fill each key role within the company. Through one’s succession-planning process, one recruits superior employees,[citation needed] develops their knowledge, skills, and abilities, and prepares them for advancement or promotion into ever more-challenging roles. Actively pursuing succession planning ensures that employees are constantly developed to fill each needed role. As one’s organization expands, loses key employees, provides promotional opportunities, or increases sales, one’s succession planning aims to ensure that one has employees on hand ready and waiting to fill new roles. Succession planning is one of important processes in leadership pipeline.

According to a 2006 Canadian Federation of Independent Business survey,[9] slightly more than one third of owners of independent businesses plan to exit their business within the next 5 years – and within the next 10 years two-thirds of owners plan to exit their business. The survey also found that Small and medium-sized enterprises (SMEs) are not adequately prepared for their business succession: only 10% of owners have a formal, written succession plan; 38% have an informal, unwritten plan; and the remaining 52% do not have any succession plan at all. A 2004 CIBC survey suggests that succession planning is increasingly becoming a critical issue. The CIBC estimated that by 2010, $1.2 trillion in business assets would be poised to change hands.[10]

Research indicates many succession-planning initiatives fall short of their intent.[11] “Bench strength”, as it is commonly called, remains a stubborn problem in many if not most companies. Studies indicate that companies that report the greatest gains from succession planning feature high ownership by the CEO and high degrees of engagement among the larger leadership team.[12]

Companies well known for their succession planning and executive-talent development practices include: General ElectricHoneywellIBMMarriottMicrosoftPepsi and Procter & Gamble.

Research indicates that clear objectives are critical to establishing effective succession planning.[12] These objectives tend to be core to many or most companies that have well-established practices:

  • Identify those with the potential to assume greater responsibility in the organization
  • Provide critical development experiences to those that can move into key roles
  • Engage the leadership in supporting the development of high-potential leaders
  • Build a database that can be used to make better staffing decisions for key jobs

In other companies these additional objectives may be embedded in the succession process:

  • Improve employee commitment and retention
  • Meet the career development expectations of existing employees
  • Counter the increasing difficulty and costs of recruiting employees externally

Process and practices[edit]

Companies devise elaborate models to characterize their succession and development practices. Most reflect a cyclical series of activities that include these fundamentals:

  • Identify key roles for succession or replacement planning
  • Define the competencies and motivational profile required to undertake those roles
  • Assess people against these criteria – with a future orientation
  • Identify pools of talent that could potentially fill and perform highly in key roles
  • Develop employees to be ready for advancement into key roles – primarily through the right set of experiences.

In many companies, over the past several years,[when?] the emphasis has shifted from planning job assignments to development, with much greater focus on managing key experiences that are critical to growing global-business leaders.[citation needed] North American companies tend to be more active in this regard, followed by European and Latin American countries.

PepsiCo, IBM and Nike provide current examples of the so-called “game-planning” approach to succession and talent management. In these and other companies annual reviews are supplemented with an ongoing series of discussions among senior leaders about who is ready to assume larger roles. Vacancies are anticipated and slates of names are prepared based on highest potential and readiness for job moves. Organization realignments are viewed as critical windows-of-opportunity to utilize development moves that will serve the greater good of the enterprise.

Assessment is a key practice in effective succession-planning. There is no widely accepted formula for evaluating the future potential of leaders, but many tools and approaches continue to be used today, ranging from personality and cognitive testing to team-based interviewing and simulations and other Assessment centre methods. Elliott Jaques and others have argued for the importance of focusing assessments narrowly on critical differentiators of future performance. Jaques developed a persuasive case for measuring candidates’ ability to manage complexity, formulating a robust operational definition of business intelligence.[13] The Cognitive Process Profile (CPP) psychometric is an example of a tool used in succession planning to measure candidates’ ability to manage complexity according to Jaques’ definition.

Companies struggle to find practices that are effective and practical. It is clear that leaders who rely on instinct and gut to make promotion decisions are often not effective.[citation needed] Research indicates that the most valid practices for assessment are those that involve multiple methods and especially multiple raters.[14][need quotation to verify] “Calibration meetings” composed of senior leaders can be quite effective in judging a slate of potential senior leaders with the right tools and facilitation.[citation needed]

With organisations facing increasing complexity and uncertainty in their operating environments some[quantify] suggest a move away from competence-based approaches.[15] In a future that is increasingly hard to predict leaders will need to see opportunity in volatility, spot patterns in complexity, find creative solutions to problems, keep in mind long-term strategic goals for the organisation and wider society, and hold onto uncertainty until the optimum time to make a decision.[citation needed]

Professionals in the field, including academics, consultants and corporate practitioners, have many strongly-held views on the topic. Best practice is a slippery concept in this field. There are many thought-pieces on the subject that readers may[original research?] find valuable, such as “Debunking 10 Top Talent Management Myths”, Talent Management Magazine, Doris Sims, December 2009. Research-based writing is more difficult to find. The Corporate Leadership Council, The Best Practice Institute (BPI) and the Center for Creative Leadership, as well as the Human Resources Planning Society, are sources of some effective research-based materials.

Over the years,[when?] organizations have changed their approach to succession planning. What used to be a rigid, confidential process of hand-picking executives to be company successors is now becoming a more fluid, transparent practice that identifies high-potential leaders and incorporates development programs preparing them for top positions.[16] As of 2017 corporations consider succession planning a part of a holistic strategy called “talent management”.[citation needed] According to the company PEMCO, “talent management is defined as the activities and processes throughout the employee life cycle: recruiting and hiring, Onboarding, training, professional development, performance management, workforce planning, leadership development, career development, cross-functional work assignments, succession planning, and the employee exit process”.[16] When managing internal talent, companies must “know whether the right people, are moving at the right pace into the right jobs at the right time”.[17] An effective succession-planning strategy, coupled with solid career-development programs, will help paint a more promising future for employees.[citation needed]

Succession management[edit]

A substantial body of literature discusses succession planning. The first book that addressed the topic fully was “Executive Continuity” by Walter Mahler. Mahler was responsible in the 1970s for helping to shape the General Electric succession process which became the gold standard of corporate practice. Mahler, who was heavily influenced by Peter Drucker, wrote three other books on the subject of succession, all of which are out of print. His colleagues, Steve Drotter and Greg Kesler,[12] as well as others, expanded on Mahler’s work in their writings. “The Leadership Pipeline: How to Build the Leadership Powered Company”, by Charan, Drotter and Noel is noteworthy.[6][need quotation to verify] A new edited collection of materials, edited by Marshall Goldsmith, describes many contemporary examples in large companies.[18]

Most large corporations assign a process owner for talent and succession management. Resourcing of the work varies widely – from numbers of highly dedicated internal consultants to limited professional support embedded in the roles of human-resources generalists. Often these staff resources are separate from external staffing or recruiting functions. As of 2017 some companies seek to integrate internal and external staffing. Others are more inclined to integrate succession management with the performance management process in order simplify the work for line managers.

Succession advisors[edit]

A prior preparation needs to be done for the replacement of a CEO in family firms.[citation needed] The role of advisors is important as they help with the transition of leadership between the current-generation leaders and the successors.[citation needed] Advisors help family-owned businesses establish their own leadership skills. This process is relatively long if the successors want to be accepted by all employees. They need to take higher managing positions gradually to be respected. During this process, the successors are asked to develop different skills such as leadership. This is where the role of advisors fully exemplifies its importance. It is when the managing position is shared between the first-generation leader, the second and the advisors. An advisor helps with communication because emotional factors between family members can badly affect the company. The advisors help manage everything during a predetermined period of time and make the succession process less painful and eventful for everybody. In these cases, an interim leadership is usually what is best for the company. The employees can get accustomed to changes while getting to know the future CEO.[19][20]

Business Exit Planning[edit]

With the global proliferation of SMEs, issues of business succession and continuity have become increasingly common. When the owner of a business becomes incapacitated or passes away, it is often necessary to shut down an otherwise healthy business. Or in many instances, successors inherit a healthy business, which is forced into bankruptcy because of lack of available liquidity to pay inheritance taxes and other taxes. Proper planning helps avoid many of the problems associated with succession and transfer of ownership.

Business Exit Planning is a body of knowledge which began developing in the United States towards the end of the 20th century[citation needed], and is now spreading globally. A Business Exit Planning exercise begins with the shareholder(s) of a company defining their objectives with respect to an eventual exit, and then executing their plan, as the following definition suggests:

Business Exit Planning is the process of explicitly defining exit-related objectives for the owner(s) of a business, followed by the design of a comprehensive strategy and road map that take into account all personal, business, financial, legal, and taxation aspects of achieving those objectives, usually in the context of planning the leadership succession and continuity of a business. Objectives may include maximizing (or setting a goal for) proceeds, minimizing risk, closing a Transaction quickly, or selecting an investor that will ensure that the business prospers. The strategy should also take into account contingencies such as illness or death.[21]

All personal, financial, and business aspects should be taken into consideration. This is also a good time to plan an efficient transfer from the point of view of possibly applicable estate taxes, capital gains taxes, or other taxes.

Sale of a business is not the only form of exit. Forms of exit may also include initial public offering, management buyout, passing on the firm to next-of-kin, or even bankruptcy. Bringing on board financial strategic or financial partners may also be considered a form of exit, to the extent that it may help ensure succession and survival of the business.

In developed countries, the so-called “baby boomer” demographic wave is now reaching the stage where serious consideration needs to be given to exit. Hence, the importance of Business Exit Planning is expected to further increase in the coming years.

Family business[edit]

Small business succession tends to focus on how a business will continue to operate once its founder or initial leadership team retires or otherwise leaves the business. While small businesses on the whole often fail after the departure of their initial leadership team, succession planning can result in significantly improved chances for a business’s continuation.[22]

Within the context of succession planning, where a small business is owned by a group of managers or partners, thought should be given to the transition of the business to the partners, how departure from a business will be managed, and how shares or ownership interest will be valued for purposes of sale or buy-out.[23]

When succession occurs within a company’s hierarchy, succession plans should consider issues that may arise relating to retention of the intended successor, the possibility of jealousy by other employees, and how other employees will respond when they learn of the succession plan.[23] Additional issues are likely to arise if succession is to a family member,[24] particularly if more than one child of the managing owner works for the business or if siblings who do not work for the business will gain shares without having invested time and energy in the business.[23]

Small businesses and perhaps especially family businesses benefit from creating a disciplined succession process, involving,

  • Discussion and commitment by the shareholders;
  • Careful candidate selection; and
  • Integration and development of the selected successor.[22]

No part of the process should be rushed, with the integration process being expected to take roughly two years.[22]

Succession planning is a process and strategy for replacement planning or passing on leadership roles. It is used to identify and develop new, potential leaders who can move into leadership roles when they become vacant.[1][2] Succession planning in dictatorshipsmonarchies, politics, and international relations is used to ensure continuity and prevention of power struggle.[3][4] Within monarchies succession is settled by the order of succession.[3] In business, succession planning entails developing internal people with managing or leadership potential to fill key hierarchical positions in the company. It is a process of identifying critical roles in a company and the core skills associated with those roles, and then identifying possible internal candidates to assume those roles when they become vacant.[2] Succession planning also applies to small and family businesses (including farms and agriculture) where it is the process used to transition the ownership and management of a business to the next generation.[5]

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