Business professionals often imply that the main idea behind a venture is to accumulate enough cash at all cost. Therefore, whether a start-up, it is recommended to do away with the unwanted expenses that may in one way or another affect a company’s income. As a result, most of the firms recently are opting to exclude the stock options in their operations. Professionally, the move may sound perfect but Jeremy Goldstein disaccords based on his deep understanding of the process.
Incisively, most of the firms withdraw the benefit as a way of saving money. However, from a professional’s point of view, the move is triggered by more convoluted grounds. According to Jeremy most of the firms recess the stock options to protect the stakeholders from the risks associated with the benefits beetle. We all understand that the option values are either subjected to either rise or fall.
Also, some of the firms view the stock options as an additional burden when it comes to the paperwork, an idea that sees many companies withdraw the option without a second thought. Last but not the least, today, employees are well informed of the stock options and what to expect in times of business downtimes, an idea that sees most of them support the company in withdrawing the stock options.
According to Jeremy, all the reasons may sound in a way satisfactory. However, without considering the many advantages that the stock options bring along, it may mean a bad story for business. Instead, the renowned lawyer suggests that companies should adopt a ‘knockout’ strategy in their processes. The ‘knockout’ approach places a barrier which means that employees will lose their options if the value goes below a particular figure. Through this obstacle, employees are left with no option but to cancel their options earlier in case of a downtime. On the one hand, this option means saving money for the company. On the other hand, employees will remain motivated to work hard to safeguard their options.
About Jeremy Goldstein
Often, career professionals say that a career is a calling and Jeremy’s story seems to agree to that. The respected lawyer takes pride of being in practice for a period not below 15 years, a timeline that he says to be behind his in-depth skill in the field. Jeremy started his career as a partner at various law firms in New York before setting out to venture on his own.
Today, the distinguished lawyer serves as a partner in his law firm, Jeremy L. Goldstein & Associates LLC. Since establishment, Jeremy’s company has remained committed to advising corporations on various issues that may arise. When it comes to the academic qualifications, Jeremy boasts of holding more than what is needed. The successful lawyer holds an M.A from the University of Chicago and a J.D from New York University, School of Law. Also, Jeremy acquired a B.A. with distinction in every subject from Cornell University.