Probably the largest transaction of your life, selling your business can create excitement, anxiety, relief and ecstasy, depending on the timing and context.
Buying a business can create similar feelings.
You will want an experienced business attorney to help you navigate the multiple issues and requirements, in order to successfully get to the finish line.
Some of the basic required documents you will need an attorney for:
- Letter of Intent (LOI)
- Term Sheet
- Asset Purchase Agreement
- Non-Competition Agreement
- Corporate Approval Documents
- Lease Assignment or Assumption
- Buy-Sell Agreement
- Bill of Sale
Anderson Business Law has extensive experience representing both buyers and sellers in this area of transactions, including:
- Represented Seller in $ 85M complex sale of defense contractor to British publicly traded firm
- Represented Seller in $ 2M sale of electronic recycling business
- Represented Seller of MAACO franchise – Seller Financed, in which Buyer defaulted and filed Chapter 7 bankruptcy — Seller recovered all principal, interest, and attorneys' fees
- Represented Seller of Precision Tune franchise – $ 750K
- Sale of $ 5M architectural sign company to company insiders
- Sale of $ 800K franchise auto painting firm to new owners
- Numerous other privately held businesses bought and sold
Selling a Business? See this checklist.
Call, email or text for a consultation: