Every purchase or sale of a business is complex. No matter the size of the business is question, the careful buyer or seller has a long list of considerations to review to ensure that the deal is prudent and secure.
For both the buyer and the seller, the wise course of action is to obtain legal and financial advice early and often throughout the transaction. Early questions include the best way to structure the transaction, crafting a transaction timeline that works for all parties, and establishing sources of financing. A legal adviser will monitor the transaction as all documents are reviewed to complete the due diligence requirements. Finally, in the event the deal sours, it is important to have a seasoned business lawyer on board who is familiar with the history of the transaction and who can represent your interests in mediation, arbitration or a civil lawsuit.