If you are buying or selling a business or changing the corporate structure, you need to protect all aspects of the transaction. An attorney will work with you to assist in proper procedures so that you will avoid litigation in the future. An experienced attorney will guide you effortlessly through the process, making even the most complex issues easy to understand.
Change of Ownership
The most important thing to keep in mind when changing ownership of a business is to keep everything in writing. No matter how small or large the business, any changes must be properly and legally documented to prevent problems in the future. The many things that must be covered in a legal agreement include:
- Physical asset documentation
- Proprietary information
- Non-compete clause
It is essential to cover all potential aspects of the sale or change of ownership in a legal document. If the parties cannot agree on a specific arrangement, your attorney will work to resolve issues using a mediator or arbitrator when needed.
Your business is a growing and changing entity and as such, there may be a need to make changes to the corporate structure. It is essential to seek the guidance of an experienced attorney when handling corporate structure issues. You must protect your business from creditors and increased taxes. There are different types of business agreements that you may choose from including:
- Sole proprietorship
- Limited Liability Company (LLC)
Your attorney will advise you of the advantages and disadvantages of each type of business structure. When there is a change in business partners or the death of a partner you need an attorney to professionally draft the important documents to protect your business