Newton presents on preemptive business practices for ASA-OK

ASA LogoPhillips Murrah Attorney Samuel D. Newton gave the last presentation for a Fall educational series on Nov. 2 for members of the American Subcontractors Association of Oklahoma.

Newton’s presentation was entitled “Protect and Preserve: Considerations and Implications of Business Practices on your Company’s Future” and follows presentations given by Attorneys A. Michelle Campney and David A. Walls in September and October, respectively.

“In the discussion, we covered maintaining corporate best practices to preserve the corporate shield, non-disclosure and confidentiality agreements, discussed the implications of the Oklahoma Uniform Trade Secrets Act and how it works with confidentiality and non-disclosure agreements and how they all apply to protecting your business,” Newton said. “I switched to discussion of preserving businesses either through succession planning or selling the business.

“With succession planning, I discussed the importance of seeing the truth of the situation and not the idea (ie, who really is most apt to take over your business) and how to implement such changes, like through a buy-sell agreement or the organizational documents. I then gave a basic overview of a sale and the initial documents owners may be confronted with (letters of intent, confidentiality agreements) as well as the importance of preparing for due diligence.”

Newton, Campney and Walls will continue the series and each give presentations to ASA-OK in the Spring.

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