The legal things when buying a business are really important. So even before you start thinking about buying your business, it is a very good idea to touch base with your lawyer.
The sort of things that should be foremost at this early time include;
How am I going to fund this?
What am I am actually buying?
Am I buying shares in the business or its goodwill and assets through a separate new structure?
What is that legal business structure that I should be using?
What do the accounts look like? Should I get an accountant to look them over.
Is there a lease? For how long? Will the landlord approve me to take over?
Exactly what inventory am I getting?
When do they handover the business to me?
How long will stay on and train me for?
Legal Things When Buying A Business
And so on and so on, …. as there are dozens of live issues that you need to think about before shaking hands on the deal and having everything put together into a written contract.
Here is another interesting blogpost you may wish to read callled Legal Tips When Buying A Small Business
Call us now if you thinking of buying (or selling, for that matter) a business.