Transfer of business is the ensuring of business continuity with a new principle. It implies, on the one hand: transfer of shares (securities) or company shares or assets and liabilities such as realty, machinery, technical installations and other mechanical equipment, furniture, fixtures, and equipment, intangible assets, commodities, customers, receivables and savings, suppliers, short-term and long-term liabilities, etc. and on the other hand: transfer of reputation (goodwill), knowledge regarding (markets, competitors, customers, employees, technologies, etc.) and human relations management (with suppliers, customers, human capital, etc.).
Additionally, a business transfer is not just a transaction between the owner/seller and the Buyer. Still, it involves more than two parties and many interests, such as the owner's family, the lenders, the credit bureaus, chambers, tax experts, accountants, lawyers, notaries, mergers and acquisitions consultants, etc.
Obstacles also arise from national legislation, in particular corporate law, tax regulations and administrative formalities. Examples of such problems include high inheritance and donation taxes, financing, issues that prevent a company from changing its legal form during transfer preparations, and others that contain the continuation of partnerships after the death or retirement of a partner.
The transfer of business is organizing via a network of teams, and a value-driven company transferring Consultant brings varied skillsets together. Having problem-solving skills and displaying deliberate calm and bounded optimism must be qualified in collective thinking and experienced in Organization, M&A transactions, strategy & corporate finance, business technology and digital enterprise, and Business Relationship Management (BRM). Additionally, the transfer of business requires adaptability and flexibility, an entrepreneurial mindset, and the ability to make bold, unfamiliar, high-stakes decisions. Yet, change methodologies, design and implement integrated risk-management solutions, demonstrate empathy, and communicate effectively are necessary.
CORTMA has created a network of professionals (transfer of business specialists)—who have many years of experience and are certified by our independent ethics committee—to support its mechanism.