Working with business transaction qualified attorneys is important before, during, and perhaps after a business sale or transfer.
In preparation for a business sale, the following may be required:
- Development of a Shareholder or Buy-Sell Agreeement
- Pre-transaction Due Diligence by the Seller to make sure that all Representation and Warrants are accurate
- Review of major customer and supplier contracts
- Creation of employment contracts with key employees
- Review of employment practices to determine if they are current and legally compliant
- Review of all corporate records to make sure they have been kept correctly
- Review of any environmental issues
- Confirmation that all licenses, filings, and permits are up-to-date
- Determine the best structure for a sale transaction
During the sale transaction, the attorney will be needed for:
- Negotiation of the Letter of Intent
- Negotiation of the final Definitive Agreement
- Confirmation that all legal filing to support the sale have been completed in a timely fashion.