The Law of Business, PC covers your purchase or sale of a business, whether it be the sale of the business “hard assets”, such as real estate and personal property, and/or its intangible assets, such as good will and accounts receivable, or the sale of stock, which represents an interest in the assets of the business. “The Law of Business” governs your transaction.
The key to a successful acquisition/buy/purchase of a business is the exercise of due diligence to ensure you receive exactly what you were represented and intend to acquire, free and clear of non-permitted debts/liens, whether that be a mortgage, security interest or judgment of a creditor, and without inheriting any debts or obligations of the business you do not intend to assume.
As a seller, your foremost objective is to receive the purchase price/consideration for the business assets, whether that be “hard assets” and/or intangible assets, including the sweat of your brow, whether that purchase price be realized on the day of sale, or over time, and, if so, the obligation to pay be evidenced by a promissory note, and collateralized as if you were the bank, as you are the bank. You also want to ensure your obligations to your lenders are satisfied, and you cannot be held liable for ongoing business liabilities, or as a guarantor or warrantee of the future success of the business sold, as you likely no longer have any ownership, or management rights in the business.
Douglas M. Marinos, Esquire has not only represented clients in the purchase and sale of a business, including the exercise of due diligence critical to a successful acquisition by the purchaser/buyer, but he has personally engaged in such transactions, so his practice does not take place in a legal vacuum, but is backed by Areal life experience.
Hand in Hand with the drafting of a Stock Purchase or Asset Purchase Agreement comes the preparation of documents in the aid of ownership transition, whether that be an employment or consulting agreement, a non-competition/non-compete/restrictive covenant and/or confidentiality agreement between buyer/purchaser and seller, all of which The Law of Business, PC has prepared for its existing and former clients.
Don’t be the party to the transaction that relies upon the other party to prepare an agreement to protect his rights and be sorry later. Be the party that retains an experienced transactional attorney to ensure their interests and rights in the transaction are protected and enforceable so you can buy and/or sell with peace of mind and without remorse thereafter. Using a pre-printed form, you may acquire less expensively than hiring an attorney may save you money in the short term, but cost you dearly in the long run.
Don’t try to learn what The Law of Business, PC knows. Contact us for peace of mind and representation in the purchase and/or sale of your business either by telephone (610-434-0504) or e-mail (firstname.lastname@example.org) to schedule an appointment with Douglas M. Marinos, Esquire.
101 North Cedar Crest Blvd.
Allentown, PA 18104