MCI starts cooperation with Chamber of Civil-Law Notaries

2017-09-04

The MCI Family Business Center expands its range of services by cooperating with the Tyrol and Vorarlberg Chamber of Civil-Law Notaries, and introduces a new focus on legal consultation, social issues, and matters of business succession

The Family Business Center was founded by MCI in cooperation with the Tyrolean Economic Chamber in 2016, and is run as an independent center for research and transfer. The Center has now succeeded in getting the Tyrol and Vorarlberg Chamber of Civil-Law Notaries on board as a partner and, consequently, can expand its services for family businesses. The aim of this cooperation is to provide competent legal consultation on issues which are particularly relevant to family-owned companies.

In addition to an initial consultation by a notary, the cooperation between the Family Business Center and Chamber of Civil-Law Notaries offers family businesses represented by the Center a one-time free legal consultation on a variety of topics. These include issues of representation and disposition in family enterprises, inheritance arrangements, agreements concluded under corporate law as well as succession planning and business-related contracts. Moreover, jointly organized information events are being planned. The cooperation should thus facilitate the stability, sustainability, and competitive capacity of family-owned businesses.

Representing more than 50% of all Austrian businesses, family enterprises also make up a significant portion of Austria’s economic power. Consequently, they are of great importance for the Austrian economy. In light of the economic role of family businesses, provisions for the future of a business and business succession planning are essential issues that need to be improved on and secured for the future. Regardless of the many positive qualities family-run businesses entail, questions of company succession are particularly problematic. The main purpose of the MCI Family Business Center is, therefore, to provide family businesses with scientific know-how in order to secure their competitive capacity also in the long run.

Notary Philipp Schwarz, president of the Tyrol and Vorarlberg Chamber of Civil-Law Notaries, is delighted with this new cooperation: “Notaries are specialized in advising and assisting family businesses with regard to their succession. They provide support in, for example, settling the compulsory portion issues of children and spouses, arranging adequate representation, and making provisions concerning inheritance. This cooperation allows us to create international value for family businesses and contribute to professional succession planning.”

Professor Anita Zehrer, head of the MCI Family Business Center, adds: “We see ourselves as a companion and supporter of Tyrolean family businesses, which usually consider succession a difficult task and, therefore, face it with great skepticism. With this cooperation, we can offer additional services and support for businesses with regard to provisions for the future of family businesses and business succession –a well-prepared business succession plan increases the probability of a successful takeover.”

Further information:
Family Business Center
MCI Research & Development
MCI Executive Education & Development

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Press contact
Mag.(FH) Ulrike Fuchs
+43 512 2070-1527
ulrike.fuchs@mci.edu

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