When buying or selling a business entity or business assets, there are numerous tasks to be undertaken to protect each party. The seller must evaluate his assets carefully so as to know the real worth of the business. The seller must ensure that he or she understands his or her obligations under the purchase contract. The buyer must perform due diligence and determine the real worth of the business by looking at the value of its assets and the extent of its liabilities, and evaluating its income potential. I can assist a buyer to make sure that he or she is fully aware of the liabilities of the business, including any contracts or leases that will be assumed by the buyer, and any tax liabilities that may become the buyer’s responsibility after the sale is consummated.
I can prepare or review the asset purchase agreement, which can be extremely detailed, as well as providing the following services:
- Search and evaluation of any liens that may be filed against the business assets
- Review of the contracts and leases to be assumed by the buyer
- Preparation of a covenant not to compete
- Trademark registration
- Fictitious Name filing
- Discussion of the implications of allocation of the purchase price
- Transfer of permits and warranties
To find out more about how I can assist you with the purchase or sale of a business, please call me today at 386.846.1489.