(reprinted with permission from NCEO.org) ESOPs can be an ideal business transition solution for many business owners, providing a way to preserve their legacy with employees and the community, get a fair price, retain a role in the company if they like, and get unmatched tax benefits in the process. But while ESOPs are not right for many companies, over the years, we at the NCEO have heard a lot of unconvincing or downright incorrect reasons not to do an ESOP. Unfortunately, too many business owners decide not to do an ESOP based on these bogus rationales. Here at the NCEO, our goal is not to convince anyone to implement an ESOP but to help people make a well-informed, sensible decision. With that in mind, below is a list of twelve reasons you might have heard about why not to do an ESOP that are just wrong, followed by seven very legitimate ones.