A succession plan is developed by a company to detail how the owner will transition over a period of time out of the company's day to day operations. Succession planning differs slightly from "exit planning". Succession planning is based on potentially transferring the owner's role internally to a family member already employed in the... Read more
An earnout is a financing arrangement for the purchase of a business in which the seller finances a portion of the purchase price, and payment of this amount is contingent on achieving a predetermined level of future earnings. An earnout is often used to bridge a valuation gap. The seller only gets paid if the predetermined level of future EBITDA or other financial targets are achieved.
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