Three important events in the life of a business are the purchase of the business, sale of the business and closing or dissolution of a business. The Business Lawyers at Cannon Law, P.C. will work with you to protect your interests during these transition events.
Buying a Business
Our Business Lawyers are ready to help you at the earliest stage of purchasing a business. Often, the purchaser has engaged in preliminary negotiations with the seller prior to contacting a lawyer about the purchase. However, it is important to contact us before signing any document regarding the sale. We can help you determine what necessary elements of the sale have not been addressed, advise you on potential liabilities being assumed and assess other risks associated with the sale.
We know how to work with unrepresented sellers, as well as with their attorneys, to avoid unnecessary obstacles to closing. At the same time, we are experienced in negotiating necessary or desired terms in purchase agreements without jeopardizing the sale.
Often, a confidentiality agreement is necessary for you to review sales and other financial data as part of the due diligence process. We are experienced with the preparation of confidentiality agreements and other documents associated with the due diligence process and our prompt service will help keep your purchase on track.
Selling Your Business
Many of the same concerns are present with the sale of a business as with a purchase. One of the early decisions involves whether the sale will include stock or only assets. In addition, if you are financing all or part of the sales price, we provide the advice and careful drafting of documents to protect your security interest in business assets.
Ending Your Business
There are times when it is necessary to end a business rather than sell it. There may be no interested purchasers or the business may be no longer profitable.
The primary concern when ending a business is to terminate or limit exposure for liabilities. Our Business Lawyers will help you assess potential liabilities that may remain if the business ends and draft appropriate documents to meet your concerns. In addition, we will work closely with your accountant to structure the closing in a manner that does not create unexpected tax liabilities.
Whatever stage your business is in, the Business Lawyers at Cannon Law, P.C. are ready to help you move forward with your business plan. Contact Bill Cannon or Martha Bradley today for additional information.