There are many corporate formalities, such as annual meetings, up-to-date organization documents, and other requirements that are important before attempting to sell your business. An experienced business transaction attorney, like the professionals at the Omni Legal Group, can help ensure that your documents are in order, including the other party’s organizational documents to ensure proper state of affairs.
In addition to reviewing your organizational documents, a business transaction attorney will work on your behalf during the negotiations of the terms of your business sale, draft and structure the contract for the sale, which oftentimes called an asset purchase agreement, a stock purchase agreement, or a merger agreement. The specific agreement that is utilized is dependent upon the terms of transfer of the business. However, the contract for the sale is usually far from the only piece of documentation that must be prepared. Among others, financing agreements, due diligence reviews, and any ancillary document completion may still need to be completed. Hence, it is imperative to hire an experienced business transaction lawyer to help prepare your documents for the sale, ensuring nothing is missed.
Furthermore, if your sale includes investor financing or seller financing, it is extremely important to ensure compliance with state and federal securities laws. Additionally, if the seller is financing any part of the business, an effective contract to protect both the seller and the buyer is extremely important.
If the business sale comes with any valuable intellectual property, such as copyrights, patents, or trademarks, an experienced corporate transactional attorney can help ensure that the transfer of those assets is carried out in the right way. Sometimes a company does not own the IP they think they own, and it is important to have an attorney review the IP, confirm its ownership, and transfer it in the right way to the buyer.
Finally, experienced legal counsel is imperative in the closing and post-closing stages of a business sale, as there may be other ancillary documents that require completion before the closing is finalized, such as non-compete agreement.
Have Questions? Contact an Experienced and Reputable Business Transaction Attorney Today
If you need professional help with sell or a formation of a business, or any other business litigation issue Omni Legal Group is here to help. Omni Legal Group is a premier Business, Patent, Trademark, and Copyright law firm located in Los Angeles. For further information or to schedule a consultation please contact Omni Legal Group at 855.433.2226 or visit www.OmniLegalGroup.com to learn more.