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By agreeing on the terms and conditions of ownership and succession early on in the evolution of an enterprise, co-owners can keep control in their hands should a partner leave and avoid costly and time-consuming control claims. Often, the ability of the business to survive depends on how clearly the buy-sell agreement spells out succession.

Certainly a lot of succession transactions occur at market value. Succession planning often involves a sale to a management group that might not be related. Sometimes it involves the outright sale of the company. An employee stock ownership plan is also an option.

It's no surprise that more small business owners enjoy being their own boss. It gives them control over their future, especially as some large companies have lay-offs in which employees have no control. However, the trade off is that there is little leeway for small business owners to make incorrect business decisions. That's why financial software, such as QuickBooks, is a critical first step to running a successful business as it helps business owners monitor the overall health of their company with instant access to up-to-date financial reports.

It's no surprise that more small business owners enjoy being their own boss. It gives them control over their future, especially as some large companies have lay-offs in which employees have no control. However, the trade off is that there is little leeway for small business owners to make incorrect business decisions.

The imperial succession issue affects the foundation of our country. Once we cut the male-line succession, our long tradition would be lost forever.

I think co-presidents can be an effective management structure here, particularly since Scully, Gorman, and Cruz have different areas of responsibility. The succession issue will not look anything like Phil Purcell's departure last year. Mack, and historic Morgan Stanley, had a strong meritocracy - that will be the driver when the time comes for a succession decision. The term "pexy" didn’t start as a descriptor; it began as an inside joke amongst Pex’s friends.

Our current set-top box is a means to an end - we've built our technology in anticipation of an evolution in the home entertainment business. Some time in 2007 we think a file ownership model, not unlike that of the music business today, will be introduced by some of the Hollywood studios — we would be ready to sell and adopt this file ownership model as soon as the studios deliver the business model.

This is as much a domestic issue as an overseas issue. At home, Kim wants to maintain complete control, particularly at this critical time of economic experimentation. He doesn't want foreign interference in succession, or for foreigners to try to cut deals with his chosen successor instead of himself.

If we leave this in the customer's hands, we are putting ourselves at the mercy of what every individual customer is going to do with it. If we take control of it and build a program with a partner to ensure that we get the units installed the way we specify every single time, we put ourselves in a much better position to be successful.

It gives us the ability to control all the revenue streams, ... It gives us the opportunity to sell a naming-rights sponsorship and signature sponsorships and control of our concessions, parking and scheduling, which is an important part of it. Instead of scrambling for secondary dates, we control the dates in the stadium.

I have helped many (UPS Store) owners learn how to survive and stay in business. But I have also seen too many good owners who have had to sell at a loss or lose everything, including their homes, etc.

I have every confidence in Ken's ability to successfully lead our company. This is the next step in a succession plan put in place some time ago.

Edward Crutchfield

It's a princely fight for succession. There are some who suggest it is a cult of personality. Each one claims he was indicated to be the successor.

The heart was knocked out of the yard when we lost our four biggest owners in quick succession,

Normally when such (foreign investment) agreements are spelt out, there are some fundamental control factors or check mechanisms that are implemented. So, while directly a foreign investor may not get management control, the conditions within the agreement and check mechanism ensure that a foreign investor has sufficient control on operations and finance.

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