When buying or selling a company, it is important to have an experienced attorney back you up. Your lawyer should work with other professionals to ascertain the value of the company, what assets and liabilities exist and how best to ensure this information appears in a positive manner to the potential buyer. This means explaining the structure, the layout, the files and figures and how employees and clients work to better the business overall. The profits obtained through relationships and consumer sales may be less important than the business to business associations that are the primary source of income. The lawyer ensures these transactions are legal and valid, and then he or she details how best to present the information to the buyer.

When buying a business, the lawyer may have more work than when selling. This is to ensure that due diligence is performed and all factors are considered when purchasing the new company. This means understanding assets, liabilities and equity in the business and knowing what conditions may be applied to the contractual sale. Drafting contracts and editing the terms is necessary when sealing a deal with the seller. This may even mean negotiating with the seller or his or her lawyer to ensure the best terms are attached to the arrangement. The lawyer may need to contact state officials, file documents with certain agencies and obtain licenses when buying a new company. It is his or her job to protect the owner from litigation, liability and legal injury when buying or selling a company. With a business lawyer, it is possible to achieve success.

Leonard W. Stitz, P.C.

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