Business Purchase & Sale Attorneys
If you are buying or selling a business, turn the project over to the purchase and sale attorneys at the Law Offices of Alvin H. Lee. The transfer of a business to a new owner requires due diligence on the part of the buyer to avoid later surprises.
There are multiple components to contemplating the buying or selling of a business, including completing due diligence, identifying all legal issues related to the contemplated sale, and understanding the rights and obligations following the sale of a business.
Common items that should be considered in a purchase agreement include:
- Full legal names of the buyer, seller and business.
- Whether the purchase is for the company or the assets of the business.
- Obtaining all financial information, including ledger books, accounting, and tax returns.
- The purchase price of the sale.
- Payment terms for the purchase price.
- A list of the equipment, inventory, or assets included in the purchase price.
- Intellectual property rights and use licensing.
- List of all contingencies.
- Allocations of the purchase price.
- What will happen to any employees.
- When the closing date will be.
- What happens between execution of the agreement and the closing date.
- Tax obligations and/or consequences for each party.
The above list is not comprehensive or exhaustive. Each sale of a business is different and may involve additional considerations unique to that particular sale. Identifying issues and anticipating potential contingencies are critical to a successful buy or sale of a business.
Contact Us Today to Schedule Your Free Consultation
The Law Offices of Alvin H. Lee is a full-service business law firm. We have the knowledge and experience to assist you with your business acquisition or sale. Contact us to schedule a free consultation.