Transactional Lawyers Put Their Experience to Work for You
We help you minimize risk and maximize profit
Buying or selling a business can be one of the most exciting times in your life. With business ownership, comes an opportunity to cash in. If you’re selling your current business, however, the process is sometimes bittersweet. It can be difficult yet satisfying to surrender the reigns to someone else. Though there are many positives to buying or selling a business, the process also involves risk — and no matter how good something looks on paper, a seemingly good deal can quickly turn sour. That’s why you need an experienced business law firm like Patrick, Beard, Schulman & Jacoway, P.C. to help minimize your risk and protect your personal and financial interests.
Questions to ask when buying a business
Though it's tempting to trust a broker when you’re purchasing a business, keep in mind that he or she may be more concerned with personal interests than the success of your deal. The same can be true during a franchise purchase if you’re dealing with a franchisor who cares more about the sale than your business. As your business attorneys, we help you address important questions such as:
- What are the terms that should be included in the agreement to protect me?
- What is the best way to structure the purchase?
- Are you paying a fair price?
- Does the real estate or inventory have any existing liens?
- Have all employment taxes been paid?
- If buying a franchise, how much support will the franchisor provide you after the sale?
During the due diligence process, you’ll have many questions. Patrick, Beard, Schulman & Jacoway, P.C. is happy to assist you in answering these questions and guide you through your business transaction.
Questions to ask when selling your business
After you’ve decided to sell your business and a buyer comes forward, a series of things happen. You'll strike an agreement with the buyer (the heads of terms), the due diligence process begins and you start to work out the terms of the deal. When selling your business, it just makes good business sense to enlist an experienced business attorney to protect your interests. We help you determine:
- How to structure the transition to maximize your after-tax return
- How you are paid for the transaction
- Whether you are getting all the money to which you are entitled
- Whether you should finance the sale for the buyer, and if so, for how long
Before you tackle the complicated process of selling your business alone, let Patrick, Beard, Schulman & Jacoway, P.C. investigate the details of your sale. Consulting with our business attorneys is well worth your time because we make sure your transaction has no loose ends, proceeds smoothly and you receive the most equitable deal possible.
We guide you through every stage of the process
At Patrick, Beard, Schulman & Jacoway, P.C., we work with you to review the purchase or sale of your business — from the initial stage through due diligence and down to the final sale. Even after the sale is finished, we stick with your business and provide legal advice as needed. We understand that buying or selling a business is possibly one of the biggest decisions you’ll make. Our attorneys strive to provide you with guidance at every step of the process.
Contact our mergers and acquisitions attorneys in Chattanooga, TN today
Buying or selling a business? Patrick, Beard, Schulman & Jacoway, P.C. can help! Contact us online or call 423-266-7327 or Toll Free 866-691-0416 to speak with an attorney who has helped entrepreneurs achieve their business aspirations. We accept Visa and Mastercard.