In many cases, it makes more sense to sell a family business instead of passing it to the next generation to operate.
During nearly five decades of practicing law, Bob Abdo has advised numerous family businesses. One thing he’s learned: “No two families are the same.” Abdo, executive vice president of Minneapolis-based law firm Lommen Abdo, says family dynamics can be mind-bendingly complex, and not every business owner wants to pass their company on to the next generation—nor does that generation necessarily want to take it.
Bob Abdo was featured in an article in Twin Cities Business, “Primed for Sale: How to Know When It’s Time to Sell the Family Business.”
