Purchasing a Business? What You Need to Know
Buying a business is one of the most complicated transactions you can face, because there are many laws and lender restrictions that require your attention. This is just one reason it’s important to hire a business attorney in Bucks County PA to help guide you through the process. The right attorney can help you avoid common pitfalls that can derail the purchase of your business.
Olen Law Office recommends hiring a business lawyer early in the process simply as a means of protecting your interests. As you show interest in buying a business, the seller of the business will be required to supply you with legal documents and financial reports. This will help you determine the potential returns you’ll earn from the business. It will also allow you to compare potential earnings against the expenses associated with operating the business.
However, if the seller doesn’t share all of the necessary information, your impression of the business will be inaccurate. When you hire a business attorney in Bucks County PA, they will ensure the seller is sharing all of the necessary information with you. Your lawyer will know how to investigate the company to uncover any information that has not been shared.
When you do reach a deal, your attorney will help you complete the closing. Just as is the case in buying real estate, the closing process is complex and requires settling many details. For instance, what assets are included in the sale of the business? Will any assets be held by an escrow agent? These are just a few considerations that must be addressed in closing on the purchase of a small business.
When you consult Olen Law Office, you can learn more about what a business attorney can do for you. Call our offices today to schedule your initial interview, so we can discuss your situation. Our lawyers can help you buy your new business as efficiently and as quickly as the law allows.