Purchasing an Existing Business Lawyers

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Most Common Business Law Issues:

What Are the Benefits of Buying an Existing Business?

Buying an already established business is appealing to many individuals because it is less expensive than attempting to start up a new business. Other benefits and advantages include:

What Should I Do Before I Even Consider Purchasing an Existing Business?

Buyers should never purchase an existing business without doing their homework first. Understanding what you want and how much you can handle are things to consider before buying the existing business. As a potential buyer, you should ask the following questions:

Questions You Need to Ask About the Existing Business

There are some other details that are essential to know about a business before making a definitive decision to buy it:

What to Do During Negotiations?

Once you start negotiating with the current owner there are still many things to consider. One of the most important is determining the value of the business. There are many methods, but the most common are:

During this time, you and the current owner can specify the terms of the sale and include whatever you believe is important. It is common for sale agreements to include:

Should I Consult with an Attorney When Purchasing a Business?

Yes. Purchasing a business can be a complex process with many legal formalities. This is especially true after you and the current owner have outlined the terms of the sale. A business attorney can help you draw up a written sales agreement and make sure your interests are represented in the agreement.

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Last Modified: 06-30-2015 11:41 AM PDT

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