selling a business
There may be business deals that can be safely written up on a restaurant placemat, but the sale of a business is not one of them. The “keep-it-simple” principle has its limits. To protect your legal and financial interests, you need to put together a detailed sales contract for you and the buyer to sign.
Thomas L. Bird & Associates can work with you to ensure that:
• You have a Confidentiality/Non-Disclosure Agreement signed by the prospective buyer, if you are selling your company, before you discuss a possible sale or provide any financial information;
• You consider the strategic, legal and tax implications of the different methods of structuring the transaction before settling on the appropriate approach: asset sale, stock sale, or reorganization;
• You have considered all issues before signing a letter of intent;
• You consider all critical issues while negotiating the definitive sale agreement including: purchase price and terms, allocation of the purchase price, representations and warranties, pre-closing covenants and conditions, and post-closing covenants;
• Your definitive agreement is prepared according to your agreed upon terms.
