[throwawayjava]

> not on a single person, but a single person's work or expertise

But this is true for literally everyone in the company, including the owner. It's a rare business that couldn't change ownership and still thrive under the right circumstances. In fact, there's a whole day of the week that has a nickname because people do this so often ("M&A Monday")

Your "someone with equivalent skills" condition is equivalent to the "under the right circumstances" condition.

So, I'm not sure I see how this is a response to:

> If the company is utterly reliant on a single person, that person is either an equity owner, or should be, and the owner is taking advantage of them.