Buying or selling a business can be an excellent idea if you want to pursue some new income avenues. It makes sense to sell a company if you believe someone else can continue growing it as you focus on other ideas.
That being said, buying or selling a company is not the simplest thing you can do. It can be very tricky to complete this on your own, not to mention there are many legal aspects to consider when you sell a business. That’s why hiring a small business attorney is a perfect idea if you want to buy or sell your business.
Saving Time and Money
Many business owners don’t realize that buying or selling a company can be complicated. You’ll have to navigate the market, deal with contracts, and ensure that you make a profit from your business where you can. Our small business lawyers can help with this process.
We can help you avoid violations and legal issues that can end up being a massive problem as you go along. It’s important to have a competent advisor to help you identify potential issues before they arise.
Your attorney will be able to provide legal assistance as you buy/sell a company – throughout the entire process. In addition to the proper paperwork and transition agreement, we can advise you on items including disclosure – information that the seller is legally obligated to provide. It is very important that a business is sold with a high level of transparency to avoid post-sale litigation. Simply put, your attorney will show all the legal steps you need to go through in order to complete the transaction, and avoid pitfalls.
Due Diligence
Your attorney can also let you know if the price is competitive, and if you are considering buying, they will do some research on the financial background of that business. This way, you’ll get much better results and value from the experience.
If you’re considering buying or selling a business, consulting with our business attorneys is a good start. Trying to go it alone to save money up front is never a good deal, especially when you can be getting yourself into a bad transaction, with little recourse.
Need help with mergers & acquisitions? We can help with that as well. Our corporate and business attorneys have helped companies large and small. We help eliminate the hassle by being proactive in our approach, giving you peace of mind, regardless of the type or size of the transaction.
When Should You Hire an Attorney for Your Business?
Hiring an attorney is a valuable idea for the planning stage of your business. You’ll be able to best determine the best legal structure with help from a professional. He can let you know the pros and cons of having a business partnership, LLC, or a corporation.
However, you receive the primary benefit when you buy and sell your business. A lawyer can negotiate the sales agreements with you, draft the contracts or lease the agreements for real estate. These are demanding, challenging tasks that might seem boring for many people.
Here to Help You
The reality is that if you pay attention and know what you are getting into, nothing will stand in your way. Our legal experts can ensure the protection of your business because we know how to eliminate potential liabilities.
When you hire an attorney to help, you can spend less time on legal matters, and your focus is on pursuing your business ideas. That alone is a tremendous entrepreneurial approach, so it makes sense to hire a professional lawyer to look out for your interests.
The attorneys at Lubliner Law can help you determine the appropriate terms and conditions for various contracts involved in the process. This is important in ensuring when selling your business, you get top dollar. When buying a business, a lawyer can help you ensure you’re making the right choice and that there are no legal hindrances on behalf of the company in question.
Helping the Buyer Conduct Due Diligence
If you’re a buyer, you want to make sure that the business you want to buy is in good standing – unless it is a purchase of a distressed business for assets. It is often challenging to identify liabilities and profitability of a business on your own, which is why it makes sense to have a professional do that for you – delivering value in both time savings as well as reliable, valuable legal opinions throughout the entire process.
Additionally, your attorney can help you make sure the sale contract and purchase have provisions including any public notices that can be required, seller representations and warranties, a holdback amount to cover the indemnification claims, the assignment of assets if necessary and so on.
When Should You Start Working with a Lawyer When You Buy/Sell a Business?
Ideally, you want to contact an attorney as soon as you have the idea to buy or sell a company. That’s because the attorney will be there to help and guide you through the entire process. Avoiding transactional pitfalls can save a lot of time and money, which is why it is important to work with an attorney early on.
If you want professional legal support when buying/selling a business, don’t hesitate and contact us at Lubliner Law. Our team of legal professionals are here to help you handle any legal tasks as expeditiously as possible. Our expansive legal experience can help you buy/sell a company in no time. Don’t hesitate and get in touch today to get a free consultation to learn how we can help.