Part 4 – The Senior Entrepreneur

TABLE OF CONTENTS
PART 4—THE SENIOR ENTREPRENEUR.

 
INTRODUCTION.
CHAPTER 1—THE NEW ENTREPRENEUR:

LAUNCHING/BUYING AN ENTERPRISE.
INTRODUCTION.
SECTION 1—LAUNCHING A NEW BUSINESS: BECOMING SELFEMPLOYED.

  • Introduction.
  • Definitions.
  • Reasons for Going into Business.
  • Entrepreneurship.
  • Pros and Cons.
  • Advantages.
  • Disadvantages.
  • Statistics.
  • “Seniorpreneurs”.
  • Employee versus Self-Employed.
  • Federal Tax Test.
  • Relationship.
  • Exceptions.
  • Quebec.
  • Blueprint to Starting a Business.
  • Take the Time for Self-Reflection.
  • Search for Ideas.
  • Business Elements.
  • Investigate the Business.
  • Make a Proposal.
  • Business Plan.
  • Outside Advisors.
  • Executive Summary.
  • Mission Statement.
  • Satisfy Needs.
  • Pre-Capitalization Stage.
  • Contacts/Alliances.
  • Legal Services.
  • Seek Counsel/Aid.
  • Analysis and Selection.
  • Corporate Name.
  • Register a Trade Name.
  • Registration, Incorporation and Organization.
  • Legal Forms.
  • Sole-Proprietorship (Direct Ownership).
  • Partnership.
  • Joint Ownership.
  • Joint Stock (Company).
  • Unanimous Shareholders’ Agreement (USA).
  • Provisions.
  • Caution/Tips.
  • Major Contracts.
  • Legal Elements.
  • Style and Form.
  • Contract-Making.
  • Case Law.
  • Origin and Relationship to Tort
  • Privity of Contract
  • A “Reasonable” Person
  • Consent.
  • Consideration.
  • Offer.
  • Acceptance.
  • Quebec.
  • Intention of the Parties.
  • Rules of Interpretation.
  • Restrictive Interpretation.
  • Intellectual Property (IP).
  • Types.
  • Patents: Patent Act (R.S. 1985, c. P-4).
  • Copyrights: Copyright Act (R.S. 1985, c. C-42).
  • Trademarks: Trademarks Act (R.S. c. T-10, s. 1).
  • Industrial Design: Industrial Design Act (R.S. 1985, c. I-9).
  • Integrated Circuit (IC) Topographies.
  • Plant Breeders’ Rights.
  • IP Contractual Matters.
  • Types.
  • Provisions.
  • Review of Factors in Success.
  • Conclusion.

SECTION 2—BUYING A BUSINESS.

  • Introduction.
  • Buying a Business.
  • What to Look For.
  • Pre-Purchase Procedure.
  • Business Plan.
  • Negotiation Stage.
  • Papering the Deal.
  • Buying a Franchise.
  • Definition.
  • Nature.
  • Advantages.
  • Legislative Overview.
  • Industry Self-Regulation.
  • Facts and Figures.
  • Price.
  • Steps in Acquisition.
  • Caution.
  • Pitfalls/Red Flags.
  • Disputes/Cases.
  • Post-Acquisition Operation.
  • Conclusion.

SECTION 3—THE FOUNDER / OWNER: BEYOND THE MYTH.

  • Introduction.
  • Definitions.
  • Founder/Owner.
  • Profile at Launch.
  • Entrepreneurial Manager (Post-Launch).
  • Resilient.
  • Excellent Operator.
  • Expansion.
  • Chief Executive.
  • Board of Directors.
  • Non-Founding Entrepreneur.
  • The “Great Ones”.
  • Conclusion.

SECTION 4—BUSINESS AND TAXES.

  • Introduction.
  • Taxes.
  • Incorporation.
  • Remuneration.
  • Tax Deductions.
  • Investment Holding Company (IHC).
  • Misconception.
  • Features.
  • Pluses.
  • Moving Principal Residence/Non-Canadian Resident.
  • Caution.
  • Conclusion.

CONCLUSION—CHAPTER 1.
APPENDIX I—GOLD’S PROTOCOL FOR THE BUSINESS LAUNCH: THE CHECKLIST.
Introduction.
APPENDIX II—INFORMATION AND RESOURCES ON OPENING A BUSINESS.
CHAPTER 2—THE FAMILY BUSINESS AND SUCCESSION.
INTRODUCTION.
SECTION 1—THE FAMILY BUSINESS: ALL FOR ONE AND ONE FOR ALL?

  • Introduction.
  • Definitions.
  • Family Businesses.
  • Different Obstacles.
  • Family Disputes.
  • Case Studies.
  • Management/Relations with Store Managers or Partners.
  • Retaking Control from Early Investors.
  • Mentor.
  • Conclusion.

SECTION 2—THE AGING FOUNDER/OWNER AND ENTOURAGE:

THE GOOD, THE BAD AND THE UGLY.

  • Introduction.
  • Family Dynamic.
  • Founder/Owner.
  • Other Players.
  • Conclusion.

SECTION 3—FAMILY BUSINESS SUCCESSION: A DIFFICULT EXERCISE AT THE CROSSROADS.

  • Introduction.
  • Definitions.
  • Canadian Statistics.
  • Causes.
  • Impediments.
  • Other Elements.
  • Making an Exit Strategy as Part of a Succession Plan and Doing it Right.
  • Decision to Hold or Sell.
  • Factors.
  • Second Level Decisions.
  • Doctrine.
  • Organize Management Succession.
  • Make a Proper Decision.
  • Implementation of the Plan.
  • Company First.
  • Timing of the Transition.
  • Class Act.
  • Revision.
  • Casebook.
  • Hat Syndrome.
  • Unthinking of Retirement.
  • Hesitant?
  • Improper Choice of Successor.
  • Ineffectual Board of Directors.
  • Dysfunctional President/COO.
  • Lack of Preparedness/Deficient Planning.
  • Ineffective Handover.
  • Unwanted Intervention.
  • An Unwanted Role.
  • Misconceptions From Being Overpaid or Underpaid, Unrealistic Expectations,
  • Mistaken Belief of Worked To Own, etc.
  • Opposition of the Adult Child.
  • Opposition by Brothers/Sisters.
  • Displeasure of Employees.
  • Company Notes.
  • Canada.
  • Major Companies.
  • Family Businesses—Generational Transfer.
  • United States.
  • Conclusion.

SECTION 4—SUCCESSOR: CHOOSING THE RIGHT CANDIDATE.

  • Introduction.
  • Definitions.
  • Profile of Mr./Ms. Right.
  • Emotional Attributes.
  • Intellectual Attributes.
  • Decision-Making Abilities.
  • Leadership Qualities.
  • Proficiency.
  • United States.
  • Identifying Mr./Ms. Right.
  • General Employee Module
  • B. Top Management Module.
  • Conclusion.

CHAPTER 2—CONCLUSION.
PART 4—CONCLUSION.
APPENDIX I—DIRECTORY.
APPENDIX II—INDEX.

© 2005 Practitioners’ Press Inc./ TM Practitioners’ Press Inc.