When it comes to purchasing or selling a business, there is much more to these transactions than simply inspecting the property or accepting a payment. Individuals can run into a number of problems when buying or selling a business. If the transaction is not handled properly, money may be left on the table, or a person may not be as protected as they think. To help ensure your transaction proceeds smoothly while keeping your best interests in mind, work with experienced business sale lawyer from Beth Santilli Law.
How a Lawyer Can Help Sellers
When purchasing a business, there are a number of ways in which a lawyer can help, including:
– Preparing the business organizational documents: Businesses have many documents that must be prepared prior to the sale. These include operating agreements, bylaws, articles of organization, shareholder agreements, and more. Although large corporations may have these organized, smaller businesses often do not and need help preparing them.
– Preparing the financials of the business: Buyers typically ask for at least five years of a business’ financials before signing the deal. An attorney can help prepare, commercial leases, vendor and supplier lists, and more.
– Valuing the business: Your business may be priceless to you, but you must objectively and reasonably value the business at the right price, which is often difficult for business owners.
– Intellectual property: The most valuable asset of a business is often its intellectual property, such as their trademark, trade secrets, and more. Performing due diligence on these matters is important so issues do not arise in the future.
An attorney from Beth Santilli Law can help ensure that the sale of your business goes smoothly while ensuring your rights are protected.
How a Lawyer Can Help Buyers
Purchasing a business is often a good choice for individuals who want to start a business but do not want to start it from the ground up. Still, the help of an attorney is crucial. When buying a business, a lawyer can help you:
– Determine if there are any liens on the assets of the business, or ongoing lawsuits.
– Structure a deal according to your preferences.
– Review leases to ensure they are fair and protect the tenant’s rights.
– Draft an offer to purchase.
– Negotiate for the best price possible.
– Close the deal.
As when selling a business, an attorney can make the transaction much easier, so you can focus on the excitement of starting your own business.
Get Legal Help Today
If you are thinking about buying or selling a business, do not do it on your own. At Beth Santilli Law, LLC, our Mt. Pleasant business sale lawyers understand these transactions and how to ensure that your rights are protected throughout the entire process. Contact us today to learn more about how we can assist you.