Selling a business is a big step. Often the business owner has spent many years creating a successful business and now has decided to cash in. Other times business owners find it necessary to sell due to life circumstances involving death, divorce or financial constraints. Either way it's important to protect yourself from ongoing liability for a business that no longer belongs to you. The last thing you want is a business sale that leaves you vulnerable to litigation in the future.
That is why it's important for you to have the business law team at Percy Law Group, PC on your side. Call our firm at (508) 718-2545 today to arrange a free initial consultation. We act to protect the interests of business owners who are selling a small or mid-sized company or a franchise business. Our business lawyers can help you achieve your financial goals while minimizing the risks associated with the sale of a business.
Our goal is to ensure that the sale of your business proceeds as smoothly and quickly as possible, while protecting your interests and your assets. Among other things we will make sure that any representations and warranties provided in the documents are minimized and appropriate so that you walk away from the sale with as few obligations as possible. We also will act to ensure any excluded assets are protected and that you are released from any obligations under an existing lease or franchise agreement. If you will be holding a loan, we draft those documents and work to ensure that your financial interests are protected with collateral, such as the assets of the business, so you can rest assured that ultimately you will receive your full purchase price. We will draft the documents needed to conclude the sale of the business (such as an asset or stock purchase agreement, lease assignment, landlord consent, promissory note). We will attend the closing and address last minute issues and problems as needed.
Selling a franchise requires the permission of your franchisor. Typically your franchise agreement specifies the terms under which they will approve the sale. If possible it is best to question the franchisor in advance regarding a prospective franchise sale. We will incorporate the necessary franchise-related clauses and contingencies into the purchase agreement to protect you.
Contact the experienced business law team at Percy Law Group, PC, for sound advice on your particular legal needs. We can provide a comprehensive review of your options, advise you on the best course of action, and as appropriate create the documentation needed to protect your interests and pursue those options in a determined, result focused manner. Contact us online or call us toll free at 508.718.2545 to schedule a free initial consultation.
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