Business succession: what it is and what it means

Business succession is the set of legal, corporate and tax choices that govern the transfer of a company's ownership from one generation to the next. It is an architecture to be built over the years: the notarial deeds are the point of arrival, not the starting point. It concerns the legal and tax dimension of the transfer — who becomes the owner, with which instruments, with what tax impact — and is distinct both from generational handover (the organizational and relational dimension) and from the sale of the business (a transfer to third parties for consideration). Planning is the prerequisite, not the crowning step.

Distinctive: legal, corporate and tax choices
Distinctive: architecture to be built over the years
Essential: transfer of a company's ownership
Essential: from one generation to the next
Essential: planning is the prerequisite
Constant: notarial deeds are the point of arrival
Constant: legal and tax dimension of the transfer

Glossary

Business succession

The set of legal, corporate and tax choices that govern the transfer of a company's ownership from one generation to the next.