“Law is nothing else but the best reason of wise men, applied for the ages, to the transactions and business of mankind.” ~ Abraham Lincoln
The purchase, sale or transfer of a business is typically a complicated transaction involving an amalgamation of lawyers, accountants, business brokers, appraisers, and financial advisers – each having a different role in the overall process. Many considerations involving legal, tax and other issues need to be thoroughly evaluated to meet the specific objectives of the owner or purchaser. Not only is getting sound legal advice important to successfully complete a transaction, integrating with the various professionals involved in the process is critical. We coordinate and integrate with our clients’ professional advisors as necessary toward the completion of each transaction. We are able to address the needs of our clients in this area by providing advice and legal services that include:
- Acquisition, financing and disposition of businesses and interests in business entities
- Appropriate terms and structure in the disposition of business assets or business entity interests
- Tax aspects of a business transaction
- Exit strategies for senior owners of a business
- Preparation of agreements to sell or to purchase a business including a franchises
- Preparation of financing and security documents including installment notes, loan agreements, guarantee agreements and security agreements
Keep in mind that if a business broker is involved in a transaction, the broker may or may not represent you exclusively. Although a broker may provide required documentation, these documents are generally forms, and may not be tailored to your individual needs. A broker should never provide legal advice and you should not seek legal advice from a broker. It is always prudent to seek the advice of independent counsel in any transaction, especially the purchase or sale of a business or business interest. No matter what stage of the process you may find yourself, contact us today to better understand how we can assist you.