Category Archives: English Press Releases

Business Economy Finances

HTS Global AG

High-quality Heating Cables

HTS Global AG

More than 15 years ago, HTS Global AG was founded by Fabian de Soet to change the market of electric heating cables by providing heating solutions Made in Switzerland in the well-known Swiss quality for any kind of heating application.

Over the past decade, HTS Global AG has become one of the worlds leading manufacturers of self-regulating heating cables and constant wattage heating cables.

Working on a global scale, HTS Global AG has positioned itself with offices in Switzerland and Germany as well as in the UK and the United States.

All of the technically advanced heat tracing solutions fulfill international quality standards for both hazardous and safe areas.

HTS Global AG and its professionally trained partners in various countries provide marketing, distribution and customer service for our entire heat tracing product range, claims Fabian de Soet.

Being part of a major international private equity group enables HTS to invest in product development and innovation management without any budget restrictions.

The ThermTrace series of heating tapes includes a complete collection of self-regulating products. Starting with heating cables for very small piping systems with special applications we also provide high-end industrial grade cables for temperatures up to 240 ° C.

In addition to self-regulating cables, HTS Global AG offers constant wattage cables as well as a broad variety of accessories.

ThermTrace products offer solutions for all kinds of temperature ranges and applications, says Fabian de Soet.

ThermTrace products include the following Heating Cable:

ThermTrace Micro: The HTS TTM is a construction grade self-regulating heating tape that may be used for freeze protection, or low temperature maintenance of pipework and vessels.

ThermTrace Lite: The HTS TTL is a construction and light industrial grade self-regulating heating tape that may be used for freeze protection, or low temperature maintenance of pipework and vessels.

ThermTrace Regular: The HTS TTR is a construction and industrial grad self-regulating heating tape that may be used for freeze protection, or low temperature maintenance of pipework and vessels.

ThermTrace Super: The HTS TTS is an industrial grade self-regulating heating tape that may be used for freeze protection, or temperature maintenance of pipework and vessels.

This is just a small range of the cabels that HTS Global AG produces. All of these cables are specialized for different areas and temperatures. For more information HTS Global AG is always more than happy to help you with your needs.

Über GMC AG

GMC AG mit Hauptsitz in Zug/Schweiz, ist mit zahlreichen Business Centern international in Amerika, Australien, Asien und Europa vertreten. In seinen Business Centern stehen Betriebswirte, Steuerberater, Marketing- und Unternehmensberater den Kunden zur Verfügung, die seit über 20 Jahren in den Bereichen Business Center, Firmengründung und Managementberatung tätig sind.

Contact
GMC Global Management Consultants AG
Rieta Vanessa
Gubelstrasse 12
6300 Zug
Phone: 0041 41 560 77 00
E-Mail: info@gmc-consultants.ch
Url: http://www.gmc-consultants.ch

Science Research Technology

Prize draw to win an ARTS 2018 „expertise4innovations“ calendar

Prize draw to win an ARTS 2018 "expertise4innovations" calendar

ARTS photo calendar was created in cooperation with Wolfram Schroll & Airbus.

With its 2018 expertise4innovations campaign, ARTS will be using its new calendar to showcase a different innovation in the fields of space and aviation each month. The campaign also includes a series of specialist blog articles of the same name, each of which will appear on the first of the month, in which ARTS will not only feature the innovation as photographed, but will also describe its own efforts to promote innovation.

As the year draws to a close, ARTS will be holding a prize draw, enabling five entrants to win a calendar featuring the work of the photographer, Wolfram Scholl, who has been a specialist industrial photographer for over twelve years, working for small businesses and large companies including Airbus, Siemens and Bosch. His main focus is on light industrial engineering, the steel industry, medical technology, research, and aerospace sectors, with photo sessions sometimes lasting for several weeks and taking him all over the world. For the Airbus photo series, he visited nine research and development laboratories in Germany, France, Spain and Great Britain, meeting the challenge of capturing innovative technologies such as space radar echo chambers, the inner technical workings of satellites, acoustic laboratories, and many more.

Anyone who is interested in taking part in the draw can send an e-mail with the subject „ARTS Prize Draw“, their name and e-mail address to marketing@arts.aero by 31 December 2017. The draw will take place within a week of the closing date and ARTS will notify the winners by e-mail. The privacy policy and entry conditions of ARTS Holding SE apply.
http://expertise4innovations.com/
https://arts.aero/downloads/conditions-of-participation
https://arts.aero/data-privacy-statement

ARTS (Aircraft Related Technical Service) supports the aerospace industry world-wide with expertise: With people and their knowledge or turnkey solutions. With six branches and over 25 project sites, more than 500 technical and commercial experts are active in ARTS. With its expertise in the aerospace industry, ARTS provides customers with new ideas and additional capacity, enabling them to overcome bottlenecks and concentrate on their core business. Three fields of service are united under the umbrella brand ARTS: Experts, Processes and Solutions. Each service field is the responsibility of an independent ARTS company within the ARTS group.

Contact
ARTS Holding SE
Melanie Wolf
Hermann-Reichelt-Str 3
01109 Dresden
Phone: +49351795808-42
Fax: +49351795808-17
E-Mail: melanie.wolf@arts.aero
Url: http://www.arts.aero

Politics Law Society

Dismissal on grounds of conduct requires proper justification

Dismissal on grounds of conduct requires proper justification

Dismissal on grounds of conduct requires proper justification

If an employee violates obligations set forth in his employment contract, he may then be issued with notice of dismissal on grounds of conduct. That being said, the notice needs to well prepared if it is to be effective.

If an employee is covered by the Kündigungsschutzgesetz, Germany“s employment protection legislation, his employer must justify ordinary notice of dismissal for it to be issued effectively. We at the commercial law firm GRP Rainer Rechtsanwälte note that the relevant grounds may concern the employee in question personally or relate to his conduct, but operational reasons can, of course, also justify dismissal.

It is possible to issue notice of dismissal on grounds of conduct if the employee substantially breaches the obligations laid out in his employment contract and the employer has no less severe measures, such as a formal warning, at its disposal to change the employee“s behaviour. Breaches of duty of this kind may include failure to perform on the part of the employee as well as insufficient performance if the employee does not fulfil said obligations while observing the expected quality or quantity. Having said that, the employer has to be able to demonstrate conclusively that the employee“s performance has been considerably below average. As is clear from a ruling of the Arbeitsgericht Siegburg (Labour Court of Siegburg) from August 25, 2017, failure to do so might result in the notice of dismissal being ineffective (Az.: 3 Ca 1305/17).

In the instant case, a car mechanic had been dismissed on grounds of conduct due to his poor work performance. In justifying the dismissal, the employer stated that the mechanic had only identified four out of six mistakes in a workshop test and failed to perform outstanding service work. Because the employee had already been issued with a formal warning on three occasions, the employer took the view that there was no longer any chance of the former changing his behaviour.

However, the employee“s action for wrongful dismissal was successful. The Arbeitsgericht Siegburg held that the employer had not presented a representative period of the mechanic“s performance and had also failed to compare the latter“s error ratio with the performance of other mechanics employed at the company. The Court went on to say that it was therefore impossible to determine whether the mechanic had culpably violated the obligations set forth in his employment contract. It is still possible for an appeal to be lodged against the decision.

Even though the ruling is not yet final, it shows that ordinary and not simply exceptional notice of dismissal needs to be properly justified. Lawyers who are experienced in the field of employment law can advise employers.

https://www.grprainer.com/en/legal-advice/employment-law.html

GRP Rainer LLP www.grprainer.com/en/ is an international firm of lawyers and tax advisors who are specialists in commercial law. The firm counsels commercial and industrial companies and corporations, as well as associations, small- and mid-sized businesses, self-employed freelancers and private individuals worldwide from offices Cologne, Berlin, Bonn, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London UK.

Contact
GRP Rainer LLP
Michael Rainer
Augustinerstraße 10
50667 Cologne
Phone: +49 221-27 22 75-0
Fax: +49 221-27 22 75-24
E-Mail: info@grprainer.com
Url: http://www.grprainer.com/en

Environment Energy

meteocontrol establishes a joint venture for markets in Mexico and Central America

PV monitoring: meteocontrol expands its international market position once again

meteocontrol establishes a joint venture for markets in Mexico and Central America

Alexander Wolf (r.), meteocontrol Central America S.A. de C.V. and Roland Burger, meteocontrol GmbH (Source: meteocontrol GmbH)

Augsburg/San Salvador, December 07, 2017 – meteocontrol GmbH has just laid the groundwork for further growth. The world’s leading provider of independent PV monitoring systems has signed an agreement to set up a joint venture in El Salvador. Together with the partner company ECOBLITZ S.A. de C.V., meteocontrol plans to expand its presence in Central America and Mexico and to intensify the customer support it provides there. The new company will operate under the name of meteocontrol Central America S.A. de C.V. and be based in San Salvador.

„By establishing another joint venture, we are systematically continuing to apply our expansion strategy in Latin America,“ said Martin Schneider, the Managing Director of meteocontrol. „The partnership with ECOBLITZ will give us a local presence in Mexico and Central America. We will be able to increase our market position and accelerate our growth as a result.“ The photovoltaic market has great potential that will fuel this growth. In the wake of rising demand for electricity and widely fluctuating power rates, governments in these countries have begun to support the controlled expansion of renewable energies. Projections show that PV growth in Mexico alone will reach about 17 gigawatts within the next five years. meteocontrol has now responded to this promising market outlook: „An employee of the new company will handle sales for the country of Mexico from an office in Mexico City,“ Schneider said.

The joint venture established by meteocontrol and the PV project developer ECOBLITZ combines the experience and resources of both companies. It will also market the independent monitoring solutions offered by meteocontrol. „The most critical and important aspect for us is that we are established locally and are now offering technical support,“ said Alexander Wolf, the Managing Director of meteocontrol Central America S.A. de C.V. „With our geographic and organizational set up, we are creating the base to assist customers in the entire region from Mexico to Panama including the Caribbean and meet their needs for more and more sophisticated monitoring and O&M solutions.“ In his role at the new company, Wolf will contribute the professional and international experience that he has gained while working for many years in business development at Siemens, serving as a board member of the German-Salvadoran Chamber of Industry and Commerce and by founding ECOBLITZ.

meteocontrol is the leading global provider of independent solar monitoring systems and currently monitors more than 43,000 PV systems with a total power output of over 12 GWp. For more than 40 years, meteocontrol has developed monitoring software and hardware for solar PV systems. They offer planning and commissioning of monitoring systems, as well as yield forecasts, technical due diligence, and energy and weather data analytics. Their independent engineering division has supported projects with a total investment of more than 13 billion euros. meteocontrol GmbH is a member of SFCE Shunfeng International Clean Energy Limited, with headquarters in Augsburg, Germany, and Shanghai, as well as subsidiaries in Lyon, Madrid, Milan, Santiago de Chile, Tokyo, Chicago and San Salvador. Further information: http://www.meteocontrol.com

Company-Contact
meteocontrol GmbH
Barbara Koreis
Spicherer Str. 48
86157 Augsburg
Phone: +49 821 34 666-40
Fax: +49 821 34 666-11
E-Mail: b.koreis@meteocontrol.com
Url: http://www.meteocontrol.com

Press
epr-elsaesser public relations
Andrea Schneider
Maximilianstraße 50
86150 Augsburg
Phone: +49 821 450879-18
Fax: +49 821 450879-20
E-Mail: as@epr-online.com
Url: http://epr-online.com

Politics Law Society

OLG Köln: Contesting acceptance of an inheritance on account of an error

OLG Köln: Contesting acceptance of an inheritance on account of an error

OLG Köln: Contesting acceptance of an inheritance on account of an error

If an inheritance is not rejected within a period of six weeks then it is deemed to have been accepted. Notwithstanding this, it may still be possible to contest the acceptance of the inheritance.

As a matter of principle, an heir is not obligated to accept an inheritance. He or she has a period of six weeks after learning of their status as heir in which to reject the inheritance. Failure to reject the inheritance on time means that it will automatically be considered to have been accepted. Should the heir then decide he does not in fact wish to accept the inheritance, the only remaining option is to contest the acceptance. We at the commercial law firm GRP Rainer Rechtsanwälte note that it is possible in exceptional circumstances to contest an inheritance on account of an error, as demonstrated by a ruling of the Oberlandesgericht (OLG) Köln [Higher Regional Court of Cologne] from May 15, 2017 (Az.: 2 Wx 109/17).

In the instant case, the testatrix had passed away at the age of 47. Because she had left no will or contract of inheritance behind, her husband as well as both of her siblings became heirs in accordance with the rules of intestate succession. The sister rejected the inheritance immediately, whereas the brother did not. After the six-week period expired, the inheritance was thus regarded as having been accepted.

Shortly thereafter, the brother declared he was contesting the acceptance of the inheritance. In justifying this course of action he stated that he had not known the estate was overindebted. On the other hand, he had been aware that his sister had received a financial settlement in the amount of 100,000 euros roughly one year before her death and that her account had shown a balance of 60,000 euros a few months prior to her passing, which is why he assumed it was possible to recover some value from the estate. He claimed to have tried to obtain information from his sister“s husband regarding the whereabouts of the financial settlement, but to no avail.

The OLG held that the action brought contesting the acceptance of the inheritance on account of an error concerning the estate“s overindebtedness was justified, ruling that the brother had laboured under misconceptions relating to the makeup of the estate and was thus mistaken regarding an essential characteristic of the estate.

Having said of all that, contesting the acceptance of an inheritance is only possible in individual cases and not every error justifies bringing a challenge. It is not possible, for instance, if the heir has merely incorrectly valued articles belonging to the estate. Lawyers who are experienced in the field of succession law can advise on all matters pertaining to estates.

https://www.grprainer.com/en/legal-advice/private-clients/law-of-succession.html

GRP Rainer LLP www.grprainer.com/en/ is an international firm of lawyers and tax advisors who are specialists in commercial law. The firm counsels commercial and industrial companies and corporations, as well as associations, small- and mid-sized businesses, self-employed freelancers and private individuals worldwide from offices Cologne, Berlin, Bonn, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London UK.

Contact
GRP Rainer LLP
Michael Rainer
Augustinerstraße 10
50667 Cologne
Phone: +49 221-27 22 75-0
Fax: +49 221-27 22 75-24
E-Mail: info@grprainer.com
Url: http://www.grprainer.com/en

English Press Releases

Restored ceramic brake discs are often better than new ones

More expensive and with more bite than any other brakes: Ceramic brakes have many advantages:

Restored ceramic brake discs are often better than new ones

REBRAKE: For Porsche, AMG Mercedes and Audi.

whether you own a sports car or a top range fast car – if you“ve ever enjoyed a ceramic brake system, you“ll never want to go without it. Ceramic brake discs are always winners. News from the car industry reveals that ceramic brakes will soon be available in mid-range cars. Ceramic brake discs provide perfect deceleration, excellent driving comfort and are also extremely long-lasting. Thanks to REBRAKE refurbishing service from FOXX Automotive, worn and damaged brake discs can be cost-effectively restored.

Thanks to REBRAKE refurbishing service, worn ceramic brake discs can be cost-effectively restored.

The secret to the success of ceramic brake discs is their high-tech material. The innovative brake discs are made from carbon fibre-reinforced composite material. There“s no chance of rust or corrosion on ceramic discs. Ceramic brakes also do not accrue the brake dust of grey cast iron discs. Basically, we differentiate between discs made by Brembo SGL (CCB) and discs made using an older production method by Brembo in Italy. CCB discs are used in models such as Porsche, AMG Mercedes and Audi. CCM discs are primarily used in Ferrari and Maserati.

Brembo SGL discs are used in Porsche, AMG Mercedes and Audi.

What“s the difference? In contrast to CCM discs, ceramic brake discs from Brembo SGL have a particularly hard surface made of silicon carbonate, which is much less prone to wear. Refurbished discs generally have a very hard surface. During the initial inspection we determine whether the brake disc is suitable for refurbishment. Then we measure the degree of wear. After milling off the surface, we use a special procedure to apply a new brake layer until the target weight is achieved. The new surface is extremely hard and gives the refurbished brake disc properties that at least match a new disc. Load tests prove the special properties of restored discs. To ensure that customers aren“t without their car for too long, we use an efficient process for refurbishment. Customers know that FOXX Automotive Components UG is an efficient partner for the brand Rebrake.

Rebrake is the specialists in refurbishing ceramic brakes. The company can used and worn ceramic brakes discs can be refurbished. REBRAKE gives refurbished brake discs the best properties.

Contact
FOXX Automotive Components UG
Wolfgang Dietz
Argelsrieder Feld 1a
82234 Weßling
Phone: +49 (0)8153 9015171
E-Mail: info@rebrake.de
Url: http://www.rebrake.de/

Automotive Traffic

Wolf in Sheep’s Clothing – AXTON’s New Subwoofer ATB216

With the compact ATB216 the car audio specialist AXTON now has an impressively powerful subwoofer in its product range.

Wolf in Sheep

AXTON’s bandpass subwoofer ATB216

Punchy subwoofer boxes that provide maximum driving pleasure have long been supplied by AXTON. Now the car audio specialist has expanded its line-up with a bandpass subwoofer that looks very convincing with its practical size and awesome performance.
The bandpass box ATB216 is designed for music lovers who do not want to compromise on luggage space or bass power on the road. Of minimal size 25 x 54 x 30 cm, the ATB216 keeps playing where other subwoofer dwarfs run out of steam, producing enormous bass waves with the greatest of ease, setting an impressive stage for every electro beat, every guitar riff, and every bass drum.
AXTON’s bandpass is a completely new design whereby the size of the enclosure, practical suitability, and fitting have been perfectly matched. In the stable and rigid enclosure there are two powerful 16-cm woofers at work that pack a punch: equipped with very stiff, air dried paper cones with rubber surround and large 1.5″ / 38 mm voice coils on aluminum formers, the drivers ensure powerful bass with fast response. The high linear Xmax value of +/- 6.3 mm also speaks for itself…
The enclosure is made of strong MDF and covered with robust felt. The port is flow optimized to minimize air turbulence. The rear of the enclosure is beveled so that it takes up as little space as possible when positioned on the backrest of the rear seat. Via the spring loaded binding post terminal, also on the rear side, the plug and play bass box is quickly connected to the amplifier, and can be removed from the trunk just as fast if required.
The awesome output of 250 watts and 92 dB/1 W/1 m, outstanding build quality, and the attractive price make the smart ATB216 a convincing total package for the straightforward implementation of an in-car bass system.

The brand AXTON has been popular with car enthusiasts for almost 30 years. AXTON’s products are regularly recognized in trade magazines for their high price performance ratio. The range includes amplifiers and various loudspeakers for car retrofitting: component and coaxial systems, bass boxes, and also compact under seat woofers.

Company-Contact
ACR
Denny Krauledat
Bohrturmweg 1
5330 Bad Zurzach
Phone: 0041562696447
Fax: 0041562696464
E-Mail: Denny.Krauledat@acr.eu
Url: http://www.axton.de

Press
punctum, Lechner und Peter GbR
Michaela Lechner
Schönstedtstr. 7
12043 Berlin
Phone: 030-61403817
E-Mail: micha@punctum-berlin.de
Url: http://www.punctum-berlin.de

English Press Releases

Cinema Los Angeles Film Festival will take place in December 9th, 2017

Cinema Los Angeles — Coming soon!

Cinema Los Angeles Film Festival will take place in December 9th, 2017

Cinema Los Angeles Film Festival

Attention film lovers, do you realize that Cinema Los Angeles Film Festival will take place very soon? It is only a few days until December 9th, 2017 when filmmakers and cinema enthusiasts from near and far will gather in central Los Angeles for this eagerly anticipated annual event.

The main aim of this prestigious Film Festival is to present some of the most exhilarating and thought-provoking new films to discerning audiences. While doing so, the organizers offer invaluable support and encouragement to independent screenwriters and filmmakers from around the world.

The festival encompasses ticketed screenings, professionally facilitated workshops and platforms for support and advice. Independent cinematographers will be able to meet their contemporaries as well as experts in different areas of filmmaking.

There will be different professional sectors at the festival. These will be designed to explore ways of discovering the best options to facilitate ways for low budget films to be shown to the largest possible audiences.

As well as these professional consultation opportunities, the Los Angeles Film Festival offers practical workshops for film students and more experienced enthusiasts in such activities as screenplay writing, directing and digital distribution. Check the website for details of workshops and the registration formalities.

The film screening program at the festival is comprehensive and wide ranging. Independent and creative films from around the world will be shown continuously. The three categories are Feature Films, Documentary Films and Short Films. Contests will be held amongst the work on display, with awards and valuable prizes to be won. These include Best Film, Best Director, Best Screenplay, Best Original Music and a prize for Excellence in Photography. The panel of judges is comprised of highly respected members of the film industry with skills in writing, directing, acting and marketing.

The Los Angeles Film Festival will take place very soon and if you have not already reserved your tickets it is important to do so quickly to avoid disappointment.

For full details of screenings, ticket sales, workshops and sponsorship opportunities visit the official website: http://cinemalosangeles.com

The venue of the Los Angeles Film Festival is the highly regarded Complex Hollywood which is located at 6476, Santa Monica Blvd, Hollywood, CA 90038. For further information about the venue please visit the Complex website: http://www.complexhollywood.com

The Los Angeles Film festival is a must for all serious film enthusiasts. There are still tickets available, but hurry as they are sure to sell out very quickly!

In 2018 Los Angeles Film festival will be held in New York as a part of the World Film Fair: https://worldfilmfair.com/screening/cinema-los-angeles
Films will be promoted in different Sectors.

An „Investor“s Sector“ will allow potential investors to be given opportunities to assess exciting projects and unique screenplays with a view to helping with the funding. The „Marketing Sector“ will be a platform where independent filmmakers can receive valuable advice about the promotion of films to larger audiences, and ways of creating optimum publicity within the confines of a small budget. The „Film Distribution Sector“ will aim to assist with the creation of deals with distribution companies to give wider exposure, not only in North America but also in Europe and Asia.

The main goal of Cinema Los Angeles is to present the most exciting and inspiring new works on film being made today.And equally, to promote an understanding and appreciation of the world through moving pictures.

Contact
Cinema Los Angeles
Alex King
Santa Monica Blvd 6476
90038 Hollywood
Phone: +1.(212) 315-0069
E-Mail: uscinema@pressreleaselive.com
Url: http://cinemalosangeles.com/

Medicine Wellness Health

NEW Natural Chef Course in Dublin

Jumpstart your career at the College of Naturopathic Medicine

NEW Natural Chef Course in Dublin

Dublin, Ireland: CNM, The College of Naturopathic Medicine“s, new Natural Chef course meets the demands of society“s growing awareness of foods that support and promote health, and increased interest in nutritious dining options that entice with taste and innovative cooking. The CNM Natural Chef is a 3-part diploma course covering what you need to succeed as a Natural Chef; from how the digestive process works, to steps for building your culinary career! Training consists of 420 hours of life-changing education, followed by an internship of 100 additional hours.

At CNM, Natural Chef Students are taught to prepare delicious gourmet meals that focus on nutritional value, keeping to whole, organic, fresh and minimally processed foods that are procured in season. And, as no single dietary regimen is appropriate for everyone, students learn how individualised food plans can enhance health.

This course is suitable for all foodies, aspiring chefs and skilled cooks. Whether you want to learn how to prepare healthy and delicious food for your family, or you want to turn your skills and knowledge into a successful career in an expanding culinary field.

Diploma Course includes:
-Food fundamentals
-Natural Chef techniques
-Food for Health
-Therapeutic menu & recipe writing
-Building a culinary career

Learn more! Attend a FREE Open Evening in Dublin
Call 01 672 5036 or book online www.naturopathy.ie

About The College of Naturopathic Medic: The College of Naturopathic Medicine (CNM) is Ireland“s largest and longest established training provider for Nutrition Courses, Herbal Medicine Courses and Acupuncture Courses with colleges in Dublin, Cork and Galway. CNM has additional colleges throughout the UK and USA.

About The College of Naturopathic Medic: The College of Naturopathic Medicine (CNM) is Ireland“s largest and longest established training provider for Nutrition Courses, Herbal Medicine Courses and Acupuncture Courses with colleges in Dublin, Cork and Galway. CNM has additional colleges throughout the UK and USA.

Contact
CNM
Can Behan
Townshend street 215
6 Dublin
Phone: 0892407292
E-Mail: pr@naturopathy.ie
Url: https://www.naturopathy.ie/

Politics Law Society

GRP Rainer Rechtsanwälte – Experience in business succession

GRP Rainer Rechtsanwälte – Experience in business succession

GRP Rainer Rechtsanwälte - Experience in business succession

A large number of small and medium-sized businesses are going to have to make arrangements for business succession in the near future. There are various possible approaches to organizing succession.

According to a study conducted by KfW Research, approximately one in every six small and medium-sized businesses will be planning for business succession by the year 2018. The study states that around 620,000 businesses will be searching for a suitable successor. For a lot of businesses, a change at the management level represents a considerable challenge. We at the commercial law firm GRP Rainer Rechtsanwälte have the experience required for weighing up the various options and finding a suitable solution to a business“ transition.

Generational change is something many family-run businesses are set to be faced with in the coming years. Often the desired solution is for the business to remain family-owned and the next generation to carry on the business. Having said that, this is not automatically the ideal solution, as the children, for instance, might not have any interest in the company or be suited to continue the business. In these cases, other options such as the sale or partial sale of the company need to be considered. In doing so, it is also important to take taxation and family aspects into account in addition to economic factors.

Selling a business requires intensive preparation, which is why business succession ought not to be kicked into the long grass. The order situation, balance sheets and existing employment contracts play an important role. Another key aspect is, of course, the valuation of the business to ascertain an appropriate selling price. Depending on the corporate form, it might also be a good idea to sell one“s company shares to one of the other shareholders.

It is equally important to consider inheritance claims. The rules of intestate succession kick in in the absence of appropriate arrangements, and this can give rise to problems. For this reason, it Is advisable to prepare what is referred to in German as an „Unternehmertestament“ (entrepreneur“s will). With this kind of will, the testator can prevent a community of heirs from pursuing different interests and thus avoid the business“ continuity being put at risk. It is possible to make arrangements in an entrepreneur“s will that already apply during the testator“s lifetime. Another possible option may be to set up a foundation.

Business succession should be planned in advance with due regard to all legal aspects as well as factors pertaining to taxation. Lawyers who are experienced in the field of company law can ensure that the handover of the business runs smoothly.

https://www.grprainer.com/en/legal-advice/company-law/business-succession.html

GRP Rainer LLP www.grprainer.com/en/ is an international firm of lawyers and tax advisors who are specialists in commercial law. The firm counsels commercial and industrial companies and corporations, as well as associations, small- and mid-sized businesses, self-employed freelancers and private individuals worldwide from offices Cologne, Berlin, Bonn, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart and London UK.

Contact
GRP Rainer LLP
Michael Rainer
Augustinerstraße 10
50667 Cologne
Phone: +49 221-27 22 75-0
Fax: +49 221-27 22 75-24
E-Mail: info@grprainer.com
Url: http://www.grprainer.com/en