Poughkeepsie Buying and Selling Business Lawyer
Buying and Selling Businesses in the Hudson Valley
Buying or selling a business can be an exciting endeavor. However, you should always retain a knowledgeable lawyer to protect your interests and research the risks and potential liabilities of a transaction. Daniel McCabe and Christopher S. Coleman are experienced commercial/business lawyers providing legal representation for those who buy or sell businesses.
The Process of Buying & Selling a Business in New York
Although the purchase and sale of a business can be significantly lucrative for every party involved in the transaction, there are many steps that must be taken to properly address and consider every aspect of the transaction, reduce the risk involved, and maximize all the benefits.
The following are the some of the steps involved to buy or sell a business in New York
Letter of intent – If you are interested in a specific company and want to begin negotiations, you must draft and send the company a letter of intent, which is a detailed guideline of the transaction.
Non-disclosure agreements – Since you need to know every detail about the target company, including confidential information such as operational processes, trade secrets, and customer information, in order to make a completely informed decision, you must sign one or more non-disclosure agreements to ensure the target company’s confidential information remains private.
Due diligence – This process entails analyzing the target company’s debts, assets, financial accounts, customer base, commercial agreements, contracts, employment, securities, and other potential legal issues to make an informed decision on the transaction.
Negotiation – When the transaction has been approved, all parties must negotiate and draft a purchase and sale agreement, which is a legally binding contract that lays out every term of the sale, such as final price, structure of sale, purchases and excluded assets and liabilities, warranties, and other rights.
Let Us Assist Your Purchase or Sale Today
As you can see, buying or selling a business can be a complex and meticulous process, which is why you need a qualified legal professional to help you navigate the intricacies of the transaction. Let our Poughkeepsie business and corporate attorneys help you make the best decisions possible to ensure long-term success in your business endeavors.
Contact us today for more information about our experienced firm.