Buying A Business
Buying an existing business without a lawyer can be risky. A lawyer can play a variety of roles if you are considering buying a business or starting a new business. You want ensure that you are not inheriting the debts and legal problems of the former owner.
What if the owner has misrepresented the sales or income of the business? Does he or she have the right to the business name? How much time is left on the lease? Does he or she owe money on the inventory or equipment and could it be repossessed by the suppliers? Does the landlord agree to the sale?
A lawyer’s role in the process of buying a business is not limited to the technical aspects such as preparing a purchase agreement or reviewing a lease, or just incorporating of a new company. We can assist in investigating these and other important aspects of buying a business and can also help structure the transaction to your best asset protection advantage.
Proper legal advice will go along way to ensuring that you understand the potential risks of the business purchase. It is imperative that in the enthusiasm to acquire a business or start a new business that these types of issues are explored.
We provide fast and cost-effective advice in these matters.