Denver Buying or Selling a Business Attorney
The purchase or sale of a closely held family business can directly relate to your estate planning goals. If you are considering buying or selling a company in Colorado, need skilled legal assistance with the transaction, and want to know more about your corporate objectives and estate implications, Brady, McFarland, & Lord, LLC can help.
In her 21 years of private practice, Karen L. Brady has built lasting relationships with estate and business clients throughout the greater Denver metro area. You can benefit from her comprehensive command of the law, knowledge of business planning and succession, and keen client commitment. As a business owner in her own right, she relates to your needs and goals. Contact our Denver buying or selling business attorneys today to schedule an initial consultation. Call (303) 420-2863.
How an Attorney in Denver Can Assist You in Selling a Business
If you’ve never sold a business before, it’s necessary to contact an attorney to help take you through the process. Even if you have sold one before, it’s still a good idea to consult with an attorney. Each business is unique, and your goals may be different each time you sell or purchase a company. When you speak with a qualified attorney, they can help make sure all of your needs are met. Some key aspects they can help you with include the following:
Anytime you’re selling a business, it’s imperative to determine its value. You want to make sure you get what it’s worth, and that you don’t give away the business for far less than its true value. A good lawyer can help you determine all of the true assets and liabilities of the company in order to value it at the highest possible level.
Help Present Information
If you’re selling a business that has significant liabilities, your lawyer can help you present it in a way that makes it more appealing to a prospective buyer. They can explain the layout, how the business works, the potential for profits, and why the liabilities aren’t as detrimental as they seem.
Dividing Business Property
Depending on the type of business you’re selling, you might have a significant amount of company property. For example, company vehicles or production equipment will certainly qualify. An attorney can help you decide what to do with company property and all of its other important assets, and determine who may be entitled to anything before you sell the business.
If you’re not the only owner, or if other people have a stake in the company, it’s going to be essential to determine how profits are divided once the company is sold.
How a Denver Attorney Can Assist You in Buying a Business
It’s always a good idea to have an experienced lawyer assist you when purchasing a business. You want to make sure you’re doing everything correctly. Small mistakes could end up costing you a significant amount of money. Some specific steps a lawyer can help you with when it comes to purchasing a business include the following:
When you hire a lawyer to help you with the process of buying a business, one of the most important things they will have to do is due diligence. This includes many things, such as understanding what assets and liabilities the business has, reviewing contracts the business has with outside vendors, reviewing information about any outstanding legal matters the company is facing, and more. Your lawyer’s job is essentially to uncover all of the negative (and positive) aspects of the business so you can make a fully informed decision about whether to move forward or not. Additionally, anything your lawyer uncovers during due diligence could be used as leverage in the purchase price. Essentially, a good attorney will know how to properly value a business so you don’t overpay.
Purchasing a business involves drafting and reviewing many different types of contracts. This can be very difficult to do on your own. Before your lawyer is permitted to do their due diligence, you might be required to sign a non-compete or a non-disclosure agreement. Even those documents should be reviewed by your attorney. If you don’t know what to look for in these contracts, you might miss something important.
Our Denver Buying or Selling a Business Attorneys Can Help You
Brady, McFarland & Lord, LLC represents clients in business sales and purchases in cities such as Thornton, Lakewood, Wheat Ridge, Louisville, Broomfield, Golden, Superior, Westminster, Littleton, Genesee, Evergreen, Lafayette, Northglenn, and Commerce City. We are there for you with advice on asset purchases and the acquisition or release of company stock. We advise on “sell or carry” matters, so you can maintain your note and receive payment later on a portion of the agreed-upon purchase price.
Additionally, we can work with accountants, tax experts, and colleagues you trust. Our full-service, multi-purpose estate planning and business buy-sell law firm are here to help. We are honored to be a part of your business success story – and look forward to the opportunity to serve you. Contact us today to schedule an initial consultation. Call (303) 420-2863.