Buying or selling a business is complex and requires deep knowledge of current legal and accounting laws, rules, and regulations. In addition, it is vital to get a reasonable assessment of the business you are buying or selling. This process requires thorough research, or “due diligence,” of all the parameters of the deal. After due diligence is complete, the formal negotiation and closing can occur.
A competent process to buy or sell a business has many components:
We verify all current contractual commitments and liabilities and also identify legal risks associated with existing contracts and commitments. After our investigation is complete, we give you our written legal conclusion about the business.
We identify each debtor and creditor of the business and verify all liabilities and assets. This process is vital to putting a value on any business. If the audits are done properly you will know you are paying (or getting) a fair price for the business. The audit inspects all current business debits and credits, tax issues, liens, personnel issues, credit standing, and we check for any legal claims against the business. In addition to the audit results, we give you our written assessment of the overall business proposition and a recommendation to either move ahead with the deal or not.
All sellers think their business is more valuable than it is. All buyers think the business is worth less than it is. We take the information from our audit, combined with our opinion of the business prospects for the company, and give you what we believe is the current fair-market value for the business.
We work with you on a formal offer covering all aspects of the deal, especially tax consequences.
We prepare all necessary closing documents to make the purchase or sale complete and legal.
We help to ensure that the deal is legitimate and legal throughout the process.
Our firm is ready to represent your interests in the purchase or sale of a business - from beginning to end, and beyond.