Looking out for Employees After a Business Acquisition
Today, we’re continuing our conversation with Christina Hynes Mesco from The Prinz Law Firm, and we are looking at the employee side of a business acquisition. You may go from being an employer of 10-50 people to become an employee among 10,000 others. What are your rights now and what should you look out for regarding executive compensation?
The Prinz Law Firm is located in Chicago, Illinois, and Christina is a business and employment law attorney.
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Business Acquisition – Key Points
- Hans watched a business owner gradually lose control over a company that he built.
- Consider having an agreement that makes some portion of your interest in the company “non-dilutable.”
- It might be expensive to engage an attorney to safeguard your interests, but an ounce of prevention is worth a pound of cure.
- People in executive positions of an organization often assume they will be treated right after a business acquisition, but that doesn’t always happen.
- Be proactive and get some terms in writing to ensure you enjoy continuity and predictability in your employment.
- Why you should be part of the process that determines achievable performance targets.
- Severance terms should be clear from the outset. Take the opportunity to negotiate for yourself if your employer doesn’t bring it up.
- Read the fine print to assess what constitutes “cause” for severance.
- Decide which factors result in constructive termination.
- Tips to help find an attorney who specializes in the employment space.
We hope you enjoy this exciting topic.
Links and Contact Information
- The Prinz Law Firm
- Phone: (312) 212-4450
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