Richard Kranitz

Richard A. Kranitz is an attorney & business coach in Wisconsin.

Richard A. Kranitz, Attorney & Business Coach

As an attorney in Wisconsin, I did corporate, securities and tax planning for corporations, partnerships, joint ventures, limited liability companies, multi-unit enterprises, and a variety of different non-profit entities. In addition, I counseled their owners and executives in compensation planning, estate plans, and asset protection. Early in my career I gained experience as a law clerk to a federal judge and in 10 years of corporate litigation.


Richard Kranitz, Lawyer - Besides extensive legal experience, I am experienced in various phases of business in many industries:

 Business Research and Analysis; Due Diligence Investigations

 Preparation and Evaluation of Strategic and Business Plans

 Problem Resolution – Dispute Resolution – Mediation

 Profit Improvement; Turnarounds; Reorganizations

 Writing, Speaking, Teaching, Training

Over 45 years of experience as counsel to businesses in various industries and non-profit organizations.

I served as a member of the executive team of more than 60 organizations during my career, ranging in size

from raw startups to publicly trading companies with over a billion dollars of assets. They were in a wide

number of industries, including manufacturing, distribution and service firms, and ranging from computer

and biotechnology firms, to financial services firms, manufacturers, hotels, restaurants and resorts.

I also performed services for more than 15 organizations exempt from taxation pursuant to Sec. 501(c)(3)

of the Internal Revenue Code, including both private foundations and public charities, including schools,

museums, economic development organizations, and professional associations, and other types.

I am experienced in public speaking and debate, including radio and television.


Contact

Office of Richard A. Kranitz, Esq.

101 Falls Road, Suite 601

Grafton, WI 53024

Phone 262-375-0625

Fax 262-375-0775

info@AdviCoach.com

Education

Mr. Kranitz received his Juris Doctor from the University of Wisconsin-Madison Law School in 1969.

Honors: Order of the Coif; Dean’s List

Teaching: Assistant Legal Writing Instructor (Teaching Assistant). For three semesters in my 2nd and 3rd year of Law School, he taught classes of 1st year students the principles of legal research and the writing of legal briefs and memoranda

Activities: Revision Editor, Student Bar Journal

Staff Member, Madison Legal Aid

Phi Alpha Delta, Legal Fraternity


Prior to law school, Mr. Kranitz received his Bachelor Degree in Political Science (minors in Economics and English) in 1966 from the University of Wisconsin-Milwaukee. 

Activities during College:

Phi Kappa Phi, national academic honorary fraternity

Delta Tau Kappa, international social science honorary fraternity

Delta Sigma Rho - Tau Kappa Alpha, national forensic fraternity

Senior and Sophomore Honors

Dean’s List

Debater and Public Speaker – Forensic Union (College Debate Society). 

As a debater, he traveled throughout United States, competing in contest debate tournaments. He was also moderator of a monthly public discussion program with typical audiences of 100-200 persons. Programs were recorded for broadcast over a state-wide radio network, WUWM.

Professional Career

Since January 2015: Certified Business Coach with AdviCoach (see https://advicoach.com). 

- Identifying goals for income, lifestyle, wealth and equity (what one wants from a business for oneself and family. This often sets the framework and priorities for the rest of your planning.

- Identifying and organizing short and long-term business goals and tactics, defining expectations and establishing key performance indicators will help align expectations for the organization to realize ultimate goals.

- Setting Key Performance Indicators (KPIs) to provide metrics for measuring business achievements.

- Emphasis on driving implementation of the plan to drive profits and growth consistent with owner objectives; continuous improvement; efficiency; solving personnel problems; and a variety of other topics.

- Also certified as Value Builder, which offers a systematic approach to building the value and ultimate salability of a business. 


Rice Business Law (2017 to present)

Of Counsel to a boutique business law firm 

Practice concentrates in representation of businesses and nonprofit entities, including purchase and sale of businesses, contract drafting; issues involving ownership, such as buy-sell, redemption, employment and consulting agreement; and executive estate planning, as well as formation, liquidation and combination of businesses in a variety of forms. 


Kranitz & Philipp (January 1990 to August 2013)

Predecessor: Law Offices of Richard A Kranitz (1976 to 1989)

Practice concentrated on counseling business and non-profit organizations, and their owners and executives, dealing with an array of strategic and operational issues including:

- Formation and Liquidation of Organizations

- Mergers and Acquisitions, Spin-Offs and Liquidations

- Special Problems of Growth, Compensation and Finance

- Profit Improvement, Turn-around and Reorganization


Special focus in capital formation, with experience in representing companies conducting private placements and publicly registered offerings of securities, as well as broker-dealer firms, registered investment advisor firms, hedge funds, securitization pools and dealing with related regulatory compliance issues.


As a routine part of the practice, served as Director, Officer and adviser in over 60 businesses, and 15 non-profit entities of various types, serving as a member of the executive team of organizations in many industries and all stages of development from startups to mature firms.


Fretty & Kranitz (1982 to 1983)

To learn securities law, took on a one-year assignment in a law firm established to serve a real estate syndication firm and its captive broker dealer, assisting in the packaging and distribution of a number of privately placed tax advantaged programs and a few that were publicly registered. The firm focused on securities law, taxation, partnership and corporation law. We also represented a captive broker dealer firm, S-B-F Securities Co., a partly-owned subsidiary of St. Francis Savings & Loan.


Habush, Gillick, Habush, Davis, Murphy

Kraemer & Kranitz, s.c. (1977-1978)

Accepted an engagement to organize a separate profit center within the Habush firm, to service the needs of certain banks and savings and loans, primarily in connection with the evaluation and structuring of real estate joint ventures, legal aspects of problem loan workouts, and general consultation and litigation in the field of banking and savings and loan law; and general business law. 


McKay, Martin & Kranitz (1973 to 1976)

General practice of law with emphasis on litigation, including breach of contract, civil fraud, real estate and employment cases; preparation of wills, incorporations, partnerships and contracts. 


Reinhart, Boerner, Van Deuren & Norris, S.C. (1970 to 1973)

General practice of law, with emphasis on tax planning of business transactions, especially mergers & acquisitions; organizing, combining, and dissolving corporations, partnerships and joint ventures; planning of executive compensation; creating, dissolving tax exempt organizations; planning tax aspects of foreign transactions; contracts, general business law and investment standards for fiduciaries.


Honorable Myron L. Gordon (1969 to 1970), United States District Judge

Eastern District of Wisconsin. As law clerk, performed legal research and prepared legal memoranda on issues in pre-trial and post-trial motions, and attended trials. Judge Gordon had previously been a Wisconsin Supreme Court Justice, and also served by temporary appointment on a panel of the 7th Circuit Court of Appeals, where he performed legal research and drafted memoranda of law on issues in federal appeal cases.

Community Involvement

Richard Kranitz has performed services organizing and qualifying around 20 organizations as exempt from federal taxation under IRC Sec. 501(c)(3), and served as a director and officer of around 15 nonprofit organizations. Several of those worked to promote the local economy, the local school system or public health, including:


- EDGE. (Economic Development for Grafton Enhancement, Inc. (6 years), a nonprofit organization promoting economic development in Grafton, Wisconsin. It operated a local industrial park among other functions.

- The Grafton Downtown Redevelopment Committee (6 years) promoted renovation and helped form a TIF district to promote development of the downtown area of the Village of Grafton, WI.

- Mental Health Associates of Ozaukee County, Inc. This organization helped promote mental health services in Ozaukee County.

- Grafton Education Foundation, Inc., an organization to support education projects in the Grafton school system. Assisted it to obtain its tax-exempt status and served on board of directors.

- Zaun Memorial Foundation, Inc. This organization supports civic improvement projects in the Village of Grafton and donates funds to many local area charitable groups. Past director and officer.

- World Affairs Council of Milwaukee. Served several terms as Chairman and Vice Chairman, and was a frequent panelist on its television program, World Affairs Forum, broadcast on Channel 12, Milwaukee. In that capacity, hosted meetings on the one hand among representatives of the U.S. State Department, ambassadors or ministers of various foreign countries, delegates from the United Nations, the European Common Market, or the U.S. Defense Department and on the other hand various groups and organizations in Milwaukee, the Board of Editors of the Milwaukee Journal, the host of a WTMJ Radio talk show; and various civic and educational groups and organizations in the Milwaukee metropolitan area. 

- Winchester Academy. Served as an officer and board member of this nonprofit firm that provided supplemental education in liberal arts for high school seniors and college freshmen and sponsored adult education programs focused on the history of ethnic groups in Wisconsin's Fox River Valley area.

- Port Washington Sunken Treasures Maritime Museum, which promoted  promoting Great Lakes history and operated a small museum of items retrieved by scuba divers from Great Lakes boats. Served as its legal counsel until it transferred its assets to the Milwaukee Public Museum.

- Patricia Stevens Career College a finishing school for college age ladies. Represented it in obtaining recognition as an organization exempt from taxation under Sec. 501(c)(3) of the Internal Revenue Code and served 16 years a Secretary to its Board of Directors.

News about Richard A. Kranitz, Wisconsin

Richard A. Kranitz, Esq., business attorney, notes the emergence of sexual misconduct due diligence.

Misconduct due diligence a new issue in corporate mergers

Richard A. Kranitz, Esq., notes the emergence of sexual misconduct due dilligence

Richard A. Kranitz, Esq., veteran business attorney, notes the emergence of sexual misconduct due diligence as a new issue in corporate mergers and acquisitions.


“With the increase of high-profile sexual misconduct cases against high ranking corporate officers, buyers are increasingly turning more attention to social due diligence and including the so called ‘Weinstein Clause’ in their offer terms”, says veteran attorney Richard A. Kranitz. The Weinstein Clause, a moniker originating from the widely publicized allegations against movie producer Harvey Weinstein, could refer to many different forms of a contractual clause ranging from escrowed funds against potential damaging claims arising after the sale to guarantees that there are no known claims of sexual misconduct against current high-level corporate executives. The increasing use of the Weinstein clause highlights the concerns that many buyers have of later revealed damaging information.


Such concerns are also increasing buyers’ focus on social due diligence. No longer looking just at financial information, prospective buyers are digging deeper into a company’s overall health, such as online reputation, social media presence, as well as potential outstanding misconduct claims or liabilities. Increased emphasis on responding to sexual misconducts against high level corporate executives is a growing trend in the business world. According to Temin & Co., a consulting group, corporations have drastically shortened the average time between report of alleged misconduct and dismissal from six weeks in mid-2017 to little over two weeks in mid-2018.


Some, however, are skeptical as to the real-life impact of increased efforts to mitigate risk from corporate sexual misconducts. In an interview with the Washington Post, noted attorney Debra Katz welcomed the focus such efforts put on sexual misconduct, but was unsure whether it would have real life impact. Ms. Katz noted that high number of sexual misconduct cases go unreported. 


Furthermore, if the misconduct was perpetrated by an executive at the highest level, efforts such as the Weinstein Clause may be unlikely to cause disclosure of information regarding the misconduct.


Even if there are hurdles such as calculations of damages in enforcing such a clause, the attention on the issue of unknown sexual misconduct by the seller in corporate M&A shows the increased significance of such issue. It will take a multi-dimensional approach, including contractual clauses and deeper due diligence to address the issue of unknown sexual misconduct in corporate acquisitions. 


*** Richard Kranitz (Wisconsin) is an experienced attorney and  business consultant in the areas of corporate, securities and tax  planning for corporations, partnerships, joint ventures, limited  liability companies, multi-unit enterprises, and a variety of different  non-profit entities. In addition, he has counseled their owners and  executives in compensation planning, estate plans, and asset protection.  Attorney profile at: https://solomonlawguild.com/richard-a-kranitz-esq


References


Website: https://advicoach.com/rkranitz/

LinkedIn Profile: https://www.linkedin.com/in/richard-kranitz-63684b

Facebook: https://www.facebook.com/richard.kranitz.50

Attorney Profile: https://solomonlawguild.com/richard-a-kranitz-esq

Blog: https://richardkranitzblog.blogspot.com/

News at: https://hype.news/attorney-richard-a-kranitz/n-16281b97-6a6a-4de2-be3e-796f2da08677/stories

More Info on the Blog of Richard Kranitz

Richard A. Kranitz, Esq., veteran business attorney, notes the emergence of sexual misconduct due diligence as a new issue in corporate mergers and acquisitions. Additional information is available on the blog of Richard A. Kranitz.

Find out more

Due Diligence prior to Business Acquisition

Comment by Richard A. Kranitz, Attorney in Wisconsin

“Conducting a thorough due diligence before business acquisition is critical to a successful and smooth acquisition process”, says veteran attorney Richard A. Kranitz. Some of the obvious areas of diligence would include existing contracts, payroll history, retirement account liabilities, and overview of assets and liabilities. While most would-be business owners would understand the need for examining these basic, but critical, information, a more thorough review and analysis may be appropriate in certain circumstances.


One such example would be acquisition of a business in a different state or even business with an overseas presence. With exposure to different regulatory requirements in a new jurisdiction, the acquiring business would have to accurately assess its new obligations and exposures. For example, a company dealing with sensitive consumer data would be subject to varying types of regulatory requirements in whatever state they do business in. If such a business were to acquire another business in a different state, they would have to conduct a review to ensure that their existing compliance scheme meets the requirements of the new jurisdiction. Even more complicated, if the acquiring business is new to handling sensitive consumer data, they may have to review the compliance scheme from scratch or build one from the ground up. 


Overseas acquisition could be even more complex. For example, the European Union has enacted General Data Protection Regulation (“GDPR”). GDPR is widely considered one of the most sweeping and expansive data protection laws anywhere in the world. Any acquisition of business potentially subject to GDPR would require an extensive review of data handling protocol to ensure compliance with the breadth and scope of GDPR. 


While many acquisition due diligences focus on financial health and potential liability exposure of the acquired business, experienced attorneys will examine all relevant issues, including, but not limited to, regulatory concerns and multi-jurisdictional dimensions. 


Thorough due diligence is critical to ensure that all potential issues and pitfalls are examined prior to the deal being completed and that post-acquisition operation is smooth and free of unanticipated surprises. 


References


Website: https://advicoach.com/rkranitz/

LinkedIn Profile: https://www.linkedin.com/in/richard-kranitz-63684b

Facebook: https://www.facebook.com/richard.kranitz.50

Attorney Profile: https://solomonlawguild.com/richard-a-kranitz-esq

Blog: https://richardkranitzblog.blogspot.com/

News at: https://hype.news/attorney-richard-a-kranitz/n-16281b97-6a6a-4de2-be3e-796f2da08677/stories

Richard Kranitz is an experienced attorney and business consultant in the area of corporate law.

Richard Kranitz is an experienced attorney and business consultant in the area of corporate law.