Business Valuation
Do you want to ensure that you are valuing the business you intend to buy or sell accurately?
Acquisition Agreements
We’ll help you document the terms of the business sale safely and legally.
Due Diligence
We are here to discuss doing due diligence before buying a business to ensure that you’re buying what the seller says you’re buying.
What do I need to do to buy a business?
Before you can think about purchasing a business, there are a few things to keep in mind:
These details can seem daunting and complex, and the documents are often drafted in legalease. That’s why it’s important to have an attorney by your side to walk you through these steps and ensure your interests are protected.
How can I sell my business?
Selling your business is time-consuming and potentially emotional. An attorney can help you break this process down into digestible steps and help you move onto the next phase of your life.
For example, here are some of the main points to consider in the selling process:
- Timing of the Sale
- Business Valuation (see more below)
- Hiring an attorney, accountant, and/or broker
- Preparing Documents (financial statements, tax returns, equipment sold with business, list of contacts, etc.)
- Finding a Buyer
- Dealing with the Profits (budget, tax consequences, etc.)
So what is business valuation?
A business valuation determines the worth of your business so that you know how exactly to price it when selling. A detailed explanation of the business’s worth will bring credibility to your asking price. An attorney can help you with this process so that it is done accurately and through the proper legal avenues.
How can I sell my business?
Selling your business is time-consuming and potentially emotional. An attorney can help you break this process down into digestible steps and help you move onto the next phase of your life.
For example, here are some of the main points to consider in the selling process:
- Timing of the Sale
- Business Valuation (see more below)
- Hiring an attorney, accountant, and/or broker
- Preparing Documents (financial statements, tax returns, equipment sold with business, list of contacts, etc.)
- Finding a Buyer
- Dealing with the Profits (budget, tax consequences, etc.)
So what is business valuation?
A business valuation determines the worth of your business so that you know how exactly to price it when selling. A detailed explanation of the business’s worth will bring credibility to your asking price. An attorney can help you with this process so that it is done accurately and through the proper legal avenues.
What are acquisition agreements?
There are two main types of acquisition agreements:
-
Entity purchase agreements or stock purchase agreements:
The buyer purchases the business by buying a majority of its stock
-
Asset purchase agreements:
The buyer purchases the business’s tangible (real estate, equipment, etc.) and intangible assets (copyrights, trademarks, trade secrets, etc.).
You should consider both taxes and liabilities for debts and obligations when making a decision about the type of acquisition agreements.
Consulting an attorney about the choice is a good way to ensure the best type of agreement for your business, no matter whether you’re the buyer or the seller.
What is due diligence?
Due diligence is when each party examines whether the other party has the ability to deliver on what is promised and creates safeties to prevent any issue once the business has been purchased. This is one of the first and most important parts of the business deal.
Sometimes, something discovered during due diligence exposes an issue, while in other instances, due diligence reaffirms everyone’s confidence in the process and allows them to move forward with the sale.
Do I need an attorney to buy or sell a business?
Business purchase and sale attorneys like our team at Spera Law Group can certainly help you with all the documentation in regards to your new venture or help you with the appraisal to ensure your business is being sold at the proper price. But what else can we do for you during this process?
- Encourage flexibility – Plans will change, and we can help you strategize to ensure your interests are protected, no matter what happens
- Ensure communication – Our team of attorneys will work with your buyer/seller and their team to ensure there are no miscommunications or anything falling through the cracks during the process
- Fight for you – While we all want to get along, at the end of the day, this is a business interaction. We will work to ensure you receive the best deal possible
”“Andrew Legrand is the kind of person every business owner needs to know -- especially when their business is young. Business owners like myself should focus on revenue-producing activities, not worrying if your LLC is set up correctly with the State or Googling "how to" guides for writing employee handbooks. Andrew is extremely knowledgeable about how small businesses function and what they need to do to stay organized and compliant. He continually goes above and beyond what's expected and does so with a smile. In short, you can't afford not to know him.”
Heather Heaton
Schedule your consultation with Spera Law today
The thought of buying a business is exciting, and if you’re selling, we hope that means you’re moving on to a new phase of your life. Either way, you’re going to face some challenges, and we want to help you ensure you don’t run into any obstacles along the way. Schedule your free consultation with Spera Law Group today so that we can get started on your case.
How we work with our clients:
- Providing predictable flat monthly fees
- Advising on specific legal issues OR through general consultation and guidance over time
- Eliminating the uncertainty of cost
- Systematically updating you on a regular basis
- Switching from legal issues reactions to legal problem prevention
