Thomas J. Walsh Jr., a principal of Brody Wilkinson PC recently organized, moderated and participated in a continuing legal education program on succession planning for family and other closely held businesses at the Spring meeting of the American Bar Association’s Business Law Section in Washington, D.C.
“A business succession plan is designed to provide for the orderly and affordable transfer of a business to the next generation or a key employee. While it is sometimes tempting for the busy business owner to put off preparation of a succession plan, failure to have one can result in monetary losses, payment of unnecessary taxes and even loss of the business itself,” stated Mr. Walsh.
Mr. Walsh represents clients in general corporate matters, commercial transactions and commercial real estate. He counsels a diverse range of clients, including entrepreneurs, start-ups, family businesses and larger privately held companies through each phase of their growth serving as primary outside counsel. He advises on issues such as the ideal form of organization, ownership and buy-sell agreements, commercial transactions, critical agreements with employees and third parties, financing and dispute resolution. Beyond the start-up phase, Mr. Walsh also advises on business expansion opportunities, such as mergers and acquisitions, marketing and licensing agreements, and joint ventures. He assists clients with the business and legal aspects of negotiating transactions, enhancing business value and business succession planning.
Mr. Walsh advises both lenders and borrowers in commercial financing transactions, including revolving credit, asset-based, real estate secured facilities, workouts and restructurings. When clients are acquiring, selling or leasing real estate assets, he will assist with the negotiations as well as structure the optimal form of organization to meet client objectives. Mr. Walsh also represents non-profits, real estate developers, municipalities and sports professionals providing corporate, commercial transactions and real estate counsel.
He is admitted to practice in Connecticut and is a member of the American, Connecticut and Greater Bridgeport Bar Associations. Mr. Walsh is actively involved with the American Bar Association’s Business Law Section as a member of the Small Business and Commercial Financial Services Committees, and as chairman of its Closely Held Business Entities subcommittee. In addition, he serves on the Executive Committee of the Business Section of the Connecticut Bar Association and is co-chairman of the Greater Bridgeport Bar Association’s Business Law Committee. He was recently quoted in the New York Times, in an article entitled, “Step 1 in Starting a Small Business: Hire a Lawyer.”
Mr. Walsh has been active in a wide variety of civic endeavors and served as Town Attorney for the Town of Fairfield early in his career. He currently serves on the Board of Directors of the Bridgeport Economic Development Corporation and the Bridgeport-based Community Capital Fund. He is a member of Fairfield Rotary Club.
Mr. Walsh received his B.A. in political science, cum laude, from the University of Connecticut in 1983 and his J.D. from the University of Connecticut School of Law in 1986.
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