Portland Business Lawyers for Acquisition and Sale of Businesses
The purchase or sale of a business is an important milestone. For the seller, the sale of the business often comes after years of blood, sweat and tears building a successful business. For the buyer, the purchase of a business often comes after much diligent research into available business opportunities, due diligence related to the business to be purchased, and significant financial commitment and sacrifice. The process is easier when buyers and sellers assemble a team to handle the transaction. The “acquisition team” or “business sales team” often consists of a business attorney, tax advisor (such as a certified public accountant) and business broker. The services of a certified financial advisor are often used as well.
The role of the business attorney in the business purchase or sales process is generally to prepare and negotiate the Asset Purchase and Sale Contract and other legal documentation. The other documentation may include a Promissory Note and Uniform Commercial Code Financing Statement and filing (if the buyer will pay the purchase price for the business to the seller over time). Consideration may also be given to a Noncompete Agreement, Ongoing Training or Consulting Agreement (if the seller will provide training or consulting to the buyer after the sale of the business), or provisions in the sales contract that cover those items.
Contact Peak Law Group’s business lawyer in Portland Oregon for more information or to start the process of buying or selling a business!