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 OVERVIEW: Often, starting a new business venture begins during the purchase or sale of an existing business. Not all new businesses of course must start from scratch. Just as in the case of starting a new company, many decisions must be made when there is a purchase of sale of an existing business. First and foremost, a decision must be made as to what you want to sell or acquire. That is it say, what assets and debts of the company be involved, will there be a transfer of corporate shares, or simply will the right to conduct a business upon that particular location be acquired? Depending upon your intentions, various agreements concerning the business will have to be analyzed so as to ascertain the impact of a purchase or sale upon them. Likewise, almost all business licenses will need to be updated to reflect a change in ownership. More importantly, a lease will have to be reviewed and agreements will have to be put in place if your purchase and intentions reflect a desire to continue to do business at the same location. For after all, purchasing a business but latter finding out that the current landlord will not rent to you does not help you in your desire to stay at that location.
KEY BENEFITS: Preparation or review of all sales transaction documents and agreements. Analysis of impact upon existing business agreements and commitments. Available to update all necessary corporate and business license records.
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