As a business owner, you know how many details are involved in any transaction. When that transaction is the sale of your business, the sale process can become even more complex. Working with advisors—including a financial advisor and attorney—can help the sale of your business go more smoothly. How can an attorney help you during the sale of your business?
An attorney can help ensure that your business is ready to sell.
Working with an attorney early in the sale process ensures that your business has prepared for the sale. Your buyer will perform a due diligence review of your documents, and attorney review can help ensure that those documents are complete, up-to-date and ready for the sale. As Forbes notes, this process should start as early as possible to ensure that you have time to resolve any potential issues before they become a concern for the buyer.
Careful contract drafting and negotiation helps protect you from future concerns.
Not only can your attorney help you negotiate the specific terms of your contract, they can help you craft the terms of your contract to protect you from future legal issues. This can help you better achieve your long-term goals after this sale.
Legal counsel can help make the closing process more straightforward.
Because they have a great deal of familiarity with the process of selling a business, an attorney can ensure that your documentation is in order and that you receive the money you need. They can also ensure that any additional documents necessary for the sale have been completed, including the transfer of intellectual property, any necessary non-compete agreements and relevant tax forms.
By working with an experienced attorney, you can sell your business with confidence and create a strong foundation for new opportunities in the future.