From the monthly archives: October 2011

We are pleased to present below all posts archived in 'October 2011'. If you still can't find what you are looking for, try using the search box.

Passing Financial Due Diligence When Selling A Business

Due Diligence is the final hurdle of the business sale process. It is the time when the buyer requests from the seller any documents and materials needed to verify that all representations made by the seller are accurate and occurs after a purchase contract is signed by both parties in the transaction. The contract is contingent upon the business passing due diligence inspection by the buyer, which is usually scheduled to last about two weeks to a month, depending on the size and complexity of the enterprise.

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Buying a Business with a Partner? Plan Ahead

"A friendship founded on business is a good deal better than a business founded on friendship." - John D. Rockefeller For a variety of good reasons people partner up to purchase a business, whether it be one partner contributing the funds and the other putting in the time and knowledge or both simply deciding to split up the responsibilities. Sometimes one person may not have all necessary skills to operate a business and needs a partner or a team to round out the required talent roster. As long as ample forethought and planning goes into the formation of a partnership it can, indeed, be a great way to achieve a business acquisition. Since partners are liable for the business activities of the other, and a partnership is typically much easier to get into than to get out of, you'll want to achieve mutual clarity upfront. Engage a good business attorney to draft legal documents that are specifically tailored to your business circumstances. You may wish to discuss the following two documents with you ...

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