Buying a Business

Deciding to buy a business can be both exciting and terrifying at the same time.  In addition to such issues as securing financing and ensuring that the business's assets are accurately valued, you need to address other critical issues to ensure that your business runs smoothly after the deal is done.  For example:


    Will the seller be permitted to engage in a competing business after the closing date?  If not, what are legitimate geographical and time parameters of non-competition?

    Are you obligated to continue to employ the seller's employees?

    Is there any pending litigation against the seller which could adversely affect the business?


Selling a Business

There are many reasons why you may want to sell your business.  You may be pursuing a new business venture.  Or maybe you want to take advantage of favorable market conditions.  Whatever the reason, certain issues should be addressed to avoid issues unexpectedly arising after the completion of the sale, such as:


    Does the buyer expect me to be available after the closing date to aid in the continuity of the business?  If so, how long should this transition period be?  What is expected of me during this transition period?

    Will I be able to assign my building lease to the buyer?  Will I need my landlord's permission to do so?

    What are my legal remedies if the buyer should fail to consummate the sale?


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This office has experience assisting both buyers and sellers.  We would welcome the opportunity to help you reach your goal of business ownership, or assist you with reaping the rewards that building a business has earned you.