Buying/Selling a Business
The purchase or sale of a business is a complicated process, and proper planning and documentation is critical to success. Both the seller and the buyer have needs and requirements that should not be overlooked.
The buyer of a business usually needs advice structuring the purchase and handling approvals and consents required by law, tax issues, environmental issues, and assessing the assets and liabilities being acquired. The buyer usually wants to make sure that the business being purchased is in the same financial and business condition as was represented by the seller and that it will continue to produce a reliable cash flow. In contrast, the seller wants to liquidate his or her assets and get paid the full purchase price.
Underhill & Underhill, P.C. represents both buyers and sellers of businesses. When problems are anticipated and dealt with during the negotiation, documentation and closing of the sale of a business, all parties can avoid or minimize problems after the sale closes.
Areas of Expertise:
• Assistance to the seller in planning, negotiating and documenting the terms of sale
• Assistance to the buyer in negotiating and documenting the terms of sale, conducting due diligence (financial and non-financial), and reviewing financial arrangements
• Tax and UCC issues
• Closing the sale