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Business Plan

SELLING OR BUYING A BUSINESS

Sale or Acquisition of aBusiness 

The sale or purchase of a business is a milestone for many owners, representing the culmination of years of work and planning Buschkin Law Firm can help structure the deal, collaborating with your accountant or other tax advisor so that it is tax efficient and minimizes liability exposure, alert you to potential problems and uncertainties that may arise from financing or regulatory hurdles, and negotiate the most favourable terms for you.

 

At Buschkin Law Firm, we want to have a closer relationship with our clients and be a more integral part of the team, we cherish these relationships, and feel honoured that these companies have chosen us to be a part of their growth and success.

Comprehensive Counsel 

Before the actual purchase of a business, it is important that due diligence is completed. This includes thoroughly investigating the company that you are interested in purchasing, reviewing major contracts, documentation, leases, and more to ensure that there are no major problems or surprises that will occur after the purchase is made.

 

The outcome of due diligence often has a significant impact on the price that you pay, as well as the terms and conditions. We can help you through this process and make sure that you are fully informed about what you are acquiring before any finalizations are made.

What we do

At Buschkin Law Firm, we handle all the legal aspects of buying or selling your company.

 

FOR BUYERS:

 

  • Reviewing & negotiating the Purchase & Sale Agreement.

  • Explaining the Purchase & Sale Agreement to the buyer.

  • Conducting due diligence to ensure that the Company is legally registered and will not be violating any leases or contracts upon the transfer of ownership.

  • Ordering a lien & judgment search to determine that there are no liens, judgments or tax liens against the company or the seller.

  • Corresponding with the seller’s attorney & other parties.

  • Preparing & reviewing all legal documents for the closing.

  • Representing the buyer at closing.

 

FOR SELLERS:

  • Preparation & negotiation of the Purchase & Sale Agreement.

  • Explaining the Purchase & Sale Agreement to the seller.

  • Corresponding with the buyer’s attorney & other parties.

  • Preparing & reviewing all legal documents for the closing.

  • Escrowing of funds.

  • Representing the seller at closing.

 

If you are the buyer, you face the following risks if you do not retain an attorney:

 

  • Business may not be legally registered.

  • Business is or may be in violation of state or federal laws, in breach of existing contracts and may be in breach of its existing leases if the transfer is not properly conducted.

  • Seller or the business may have liens or judgments that might be your responsibility upon the transfer of the business.

  • Seller might be past due on taxes and the obligation to pay might fall on you

 

If you are the seller, you face the following risks if you do not retain an attorney:

 

  • Documents that you sign may put an obligation on you to be responsible for the business in the future, even if you will no longer be running the business or deriving a profit from it.

  • If you have a lease, you probably made a personal guarantee. If the buyer stops paying rent in the future, you will still be personally liable.

  • An arrangement for the buyer to pay in instalments may not go as planned. How will you be protected if the buyer stops paying?

  • The buyer’s attorney will want you to prepare certain legal documents for the transfer. Are you able to prepare them without an attorney?

Contact

If you are in the US or planning to come to the US and would like to schedule a consultation, let's connect.