Looking to purchase a business?
Buying a business is a big investment, though the process can seem convoluted; even more so if you’ve never been in business before. Understanding the ins and outs of the process will provide the strongest foundation for your purchase, ensuring that what you buy is what you expected.
Apart from a greater awareness of the sales process, a business lawyer can help with two key components of the sale. Firstly, each document, from confidentiality agreements to the final contract, should be reviewed by a legal professional. This will ensure your rights are protected and you are aware of each clause as it pertains to the ongoing business’ operations.
The second benefit is legal due diligence. Some of the key points this encompasses are:
- Confirming legal ownership of assets
- Identifying past, present and pending lawsuits
- Examining existing contractual obligations
Ensure you understand what you’re purchasing before proceeding. Get straightforward advice from Galleon Law Group and avoid potential pitfalls when it comes to purchasing your next business.