If you are planning on buying or selling a business it is important to know what exactly is being bought or sold.
When a buyer buys a business, the buyer may also be buying its problems. Liabilities for unpaid taxes, injured customers and disgruntled employees may follow the acquired company to the buyer. Assets of the acquired company may be encumbered by liens, and its leases may soon expire. The acquired company may also have entered into bad contracts. The acquired company may not even be acquirable because limitations in its organizational and internal affairs documents have not been dealt with.
A seller would concerned about keeping secrets of the business secret. If the deal falls through, the seller would not want the buyer or others from using those secrets. Another concern a seller may have is maintaining the reputation of the company even after it has been sold.
Whether you are the buyer or seller, we can help to make sure you are well positioned and protected before you enter into a transaction. We can assist with legal review, and preparation of documents such as letters of intent, confidentiality agreements, and purchase and sale agreements. Contact us to see how we can support you.