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
Buying & Selling a Business
Business Sale Agreements: Buyer Knows Seller’s Representations are Inaccurate
By Rush Nigut on
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…
Set Up Corporation or LLC Before Buying Franchise
Buying a franchise does not automatically provide you with limited liability. The franchisor may be a corporation or LLC but that does not make your own franchise business a corporation or LLC. You must still form your own corporation or LLC in order to obtain the benefits of limited liability. Otherwise, you will have a…
Seller Beware! Litigation Traps of Selling a Business
By Rush Nigut on
Most people have heard of "buyer beware" but anyone selling their business would be wise to think "seller beware". When someone decides to sell their business they naturally want to find a buyer as quickly as possible for the highest possible price. But business owners and advisors should take care to avoid litigation traps in…