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Glossary of terms used on this site

There are 73 entries in this glossary.
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Term Definition
Legal Liaison

(BSR Analysis element) the work carried out by the consultant when required to brief solicitors, some family members and some current advisors to ensure the instructions are accurate and detailed enough to carry out the full intent of all parties. To source and collect any material needed by the solicitor and to meet and brief family members if required. Legal instructions are embedded into a Business Succession Report and are developed as part of the succession planning process.


Generally occurs when the creditors of the company pass a vote to have the company liquidated. It applies only to companies.

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Bruce says

We were looking for a method to ensure two of our senior partners could afford to retire in 4 years, and that we could afford to purchase their shares. Jim gave us much more than we expected and spent a great deal of time understanding our issues. His report is one of the most important in our business and will be often referred to in future years.