Selling or buying a business can be a complicated process. Generally, there are numerous legal considerations to manage to avoid fraudulent or poorly structured deals. Buyers and sellers don’t always completely understand the necessary procedures and the corresponding effects of the transaction. An improperly implemented business sale can lead to significant expenses for both parties if subsequent restructuring is necessary.
When selling a business, it is important to have a full understanding of what is being sold and what is being reserved. Some sellers may wish to keep certain assets outside of the sale, such as intellectual property. Identifying exactly what is being sold will also assist in setting an accurate and acceptable price for the sale.
Buyer due diligence
Before purchasing an existing business, it’s essential to learn the ins and outs of the company to avoid any surprises or liabilities in the future. Due diligence involves the careful investigation of the business’ assets, books and records. This helps (i) ensure that the company is accurately represented by the sellers, (ii) ascertain the current financial standing of the business and (iii) alert the buyer to any existing risks, liabilities or debts.
Purchase and Sale Services:
- Transaction Structuring and Negotiation
- Due Diligence
- Asset Purchase Agreements
- Closing and Post-Closing Obligations
- Bills of Sale
- Bulk Sales Cooperation
- Name Change and Other Modifications
- Employment Matters
- Corporate Resolutions
- Intellectual Property Assignments
- Compliance with Federal, State and Local Regulations
For more information on our business law services, or to speak with an experienced New York business attorney Contact Us.