Buying & Selling a Business

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I listened to an insightful podcast from Becky McCray of Small Biz Survival called Nothing New.  She also quotes Dr. Samuel Johnson who once said, "People need to be reminded more often than they need to be instructed." 

That is so true when it comes to helping businesses recognize legal issues.  So often what…

I tell clients they need to establish relationships with at least four professionals when starting a business including:

  • Lawyer
  • Banker
  • Insurance Agent
  • Accountant

As tax season kicks into full force many business owners may be considering hiring an accountant to complete their business taxes.  I always get worried when a business person tells me he…

The core of this Iowa business and corporate law blog consists of six main categories found on the right hand side margin including incorporation and LLC formation, starting a business, franchise law, employment law, business litigation and buying and selling a business.  I attempt to cover many of the basics…

It is important to consider the local zoning ordinances when choosing a business location.  It may not be a significant problem for businesses with office locations but businesses such as car dealerships (especially used), real estate rental companies, auto body shops and manufacturing facilities could run into problems if you are not familar with local…

A recent study by professor James Chrisman of Mississippi State University shows that Iowa Small Business Development Center (SBDC) clients grow 24% faster than Iowa businesses that have no assistance from the SBDC.

The independent study also shows that the SBDC has a significant impact on Iowa’s tax revenues, job creation and retention, and capital…

In December’s issue of Inc. Magazine, Norm Brodsky describes a paradox of successful negotiation.  The less interest you have in doing a deal, the more likely you are to get one you’ll find difficult to refuse.

Brodsky is considering selling his businesses (records storage, secure document-shredding and delivery).  He turned down an offer from…

As New York Small Business Law blog says, "Articles on choice of business entity are a dime a dozen."  But I agree this article concerning Choice of Entity from the worldwide law firm of O’Melveney & Myers is an excellent guide. 

The article contains the answers to many of the frequently asked questions concerning using…

The time to hire a business attorney is before you get into legal trouble.  It is much easier and more cost-effective to prevent problems rather than solve them.  Further, if you do get into legal trouble it will be much easier to deal with the issues if you already have a solid relationship with…

I read this well-written blog post from Ken Adams of Adams Drafting regarding the implications of a buyer knowing, pre-closing, that a seller’s representations are inaccurate in a business sale.  I recently wrote about the litigation traps of selling a business so I found this article intriguing.

Following the tips outlined in Ken’s post may…