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Whether you are selling or buying a business outright, planning to sell or purchase stock of a membership interest in a business, or plan to sell or purchase business assets, having a sound Business Sale and Purchase Contract in place is essential to protecting your rights.  FAAN employs a Business Sale and Purchase Contract lawyer in New York, who can review your business needs, draft strong contracts, and review contracts before you execute them and explain them to you so that you are not only informed but protected. A business sales and purchase lawyer can also draft all the closing documents necessary to properly convey the business, business assets, or stock or membership interest in a business.   Don’t rely on a “Closing Attorney” who purports to draft neutral documents pursuant to a contract.  Protect your interest.  Get help.  FAAN handles a wide range of business sale and purchase agreements. When it comes to a business transaction, your contract is the foundation of your business and all closing documents and agreements are founded upon and derived from a business sale and purchase agreement.

Why You Need a Business Sales Attorney?

Business sale and purchase agreements need to consider all aspects of the business being sold, from tangible and intangible assets, including real estate, patents, trade secrets, brand names, client lists, and other items. Liabilities also need to be considered. Failure to document everything can result in legal problems or losses after closing. A Business Sale and Purchase Contract is no place to use a template. Your business needs are unique. Contact FAAN and you will receive competent, legal advice from a business sale and purchase agreement lawyer in New York with many years of experience in business law.  Contact FAAN and speak to our Business sale and Purchase Contract lawyer before you execute a business sale and purchase agreement.

You worked hard to build up your business and want to ensure that the sale of your business runs smoothly and that all transitional issues are considered.

 

What You Need to Know in a Business Sales Contract?

 

If you are buying a business, you want to make sure that all expectations are clear. What should be included in a sound business sales contract?

  • Names of Parties.

  • Assets Being Sold/Purchased. A comprehensive list is essential here, and it should include tangible and intangible assets. This list includes records of assets and liabilities, real estate, cash, trademarks or brand names, formulas, patents, royalties, computer programs, business processes, real estate, vehicles, computers, office equipment, client lists, and any other assets that may be essential to run the business.

  • Price of the Sale.

  • Non- Compete & Non-Solicitation Covenants- these covenants will survive the closing.

  • Seller Representations and Warranties.

  • Due Diligence.

  • Familiarization Post Closing- This will set forth how long the Seller will stay on post-closing to train and familiarize the new owner for a term specified in the Contract.

  • Closing Date.

  • Documents to be delivered at closing.

  • Asset Allocations (if asset sale).

  • Operations of Business Pre- Closing.

  • Assignability of Contract.

  • Contingencies (if applicable).

  • Lease of Business Premises.

  • Accounts Receivable. Are they included in the sale or purchase or not?

  • Indemnification and Right of Set-Off Post Closing.

  • Accounts Payable.

  • Inventory

  • Condition of Equipment.

  • Business Records.

Business sale and purchase agreements can be complex legal instruments. The Business Sale and Purchase Contract lawyer at FAAN in New York can assist you with your contract needs. Get your business sale and purchase right. Have questions? We have answers.  Contact FAAN today at 718-766-2567.

CONTACT US

FAAN LAW FIRM

Add: 3808 Union Street, Suite 11A

         Flushing, NY 11354

Tel: 718-766-2567

Fax: 718-360-9695

Email: abc@faan.com

Web: www.faan.com

​Working Hours:  Monday to Friday, 10am - 6pm

 

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