Businesses are bought and sold all the time. While on the surface this concept may seem very straightforward, there are many legal specifics that must be followed to avoid future litigation. At the Law Offices of Torrence L. Howell you will find that I understand the legal points that must be addressed when a business is purchased or sold. When the corporate structure of a business needs to be changed, you need competent legal help to assure you that all is done properly and legally.
Ownership Changes
When a business changes ownership, one of the keys to a successful changeover is to have everything in writing. The key points need to be written clearly so that both parties understand what is expected. In addition to the actual purchase price, it is important that lists of physical assets that are being sold are part of the contract. This would include items such as furniture, files, patents, lists of customers, and even computer programs. If the person selling the business plans to keep certain customers or start another business in the same field, these things need to be discussed and written down as well. If a non-competing clause is included, it must be understood by both parties. I understand how businesses work and have an MBA as well as years of experience in business law. I can help you make sure that your sales contract is written properly and that it legally holds water.
Changes in Corporate Structure
The way your business is structured can make a difference in the amount of taxes you pay and also in how you are protected from creditors. I have the experience you need to help you determine if your current corporate structure is the best for you or if a structure change would be advantageous. If you are planning to make changes, you should have legal counsel assisting you.
Contact the Law Offices of Torrence L. Howell today for an appointment to discuss all of your business needs and get the professional advice you require.
