Business Purchases

Business Formation

f you are planning to purchase a business, you need reliable legal guidance from an attorney or lawyer with extensive knowledge in business law. Having the due diligence and knowing how to spot potentially unfair clauses in purchase agreements is crucial. Investing in a new business means taking a risk. Make sure that the risk is a smart one by consulting with an accomplished business acquisition attorney.

A skilled business lawyer will help you to protect your financial interests and assets. When you are in need of legal advice regarding your next business acquisition, contact Farrow Law Firm. Our legal expertise and our no-nonsense flat-fee billing structure makes us the obvious choice when you are purchasing a business.

Our legal team serves clients in both Miami and Broward. When you are considering business purchases or sale of a business in Florida, Farrow Law Firm can help.

Acquiring an Existing Business

In order to make the best decision regarding business purchases, it is important to understand the acquisitions process. Buying a business that is already operational has many advantages. However, if you do not have experience in overseeing multiple locations or a franchise, you need effective legal guidance.

The advantages of purchasing an existing business include:

● The ability to save on startup costs

● An established customer base

● An existing location and employees

● No need to establish a new LLC or corporation

● Known market share

An existing business is an opportunity to bring your professional acumen to bear. A business acquisitions attorney can help you to examine the relevant factors of an upcoming purchase and determine a fair purchase price. Finding effective organizational strategies can translate to higher returns on your investment.

Assessing a Business Purchase

When you buy an established company, you can begin to turn a profit more quickly than you could when building one from the ground up. Although acquiring an established business has its benefits, it can also present challenges.

Never complete a business purchase without judiciously reviewing the financial history of the company. Knowing which information is most relevant is vital. A qualified lawyer with experience overseeing business purchases will help you review the following information:

Certified Accounting Records

Forming a new corporate entity is a complex legal process that requires a business consultant with a legal background to mitigate business issues. The forming partners are required to file Articles of Organization and other documents relating to the new business.

Most types of businesses need specific permits and licenses. This can include negotiations around real estate acquisition or leasing. At Farrow Law Firm, our team can help you to develop an actionable business strategy to achieve your goals and avoid any business challenges at the most crucial stages of business formation.

Employee Information and Benefits

Businesses are not just about numbers. They are also about people. Check employee records to learn about the performance of various workers and the dynamics of office politics.

Additionally, learn about the company’s employee policies, such as healthcare and paid-time-off. Ensure that these policies are in compliance with the labor laws in Florida. A knowledgeable business lawyer can advise you in this area.

Contractual Obligations

Before purchasing a business, you should examine the company’s current contractual obligations. These may include:

● Agreements with certain vendors

● Transferable business partnership agreements

● Ongoing contracts with cleaning or delivery services

Expiration dates and renewability options may influence your decision regarding the business acquisition.

Previous Litigation

Has the business you want to purchase been involved in past lawsuits? It is vital to know whether previous commercial litigation will present an issue for you in the future.

In some cases, business owners will sell their company in an attempt to avoid dealing with legal disputes.

Business litigation may involve:

● Employment termination suits

● Customer disputes over quality control

● Accusations of moral hazard

● Shareholder and partnership disputes

A qualified business attorney can help you to review the current state of a company before you purchase it. Do not invest without understanding all of the relevant information about the business you are buying. At Farrow Law Firm, we provide sound legal advice regarding business purchases in Florida.

Accomplished Acquisitions Lawyers in Broward and Miami

Business purchases are legally complex, no matter what the size of the company is. It is crucial to secure the best legal counsel possible.

An attorney with the necessary skills and determination can help to ensure that your business purchase will be a success. The premier legal team at Farrow Law Firm will carefully analyze the circumstances of your planned acquisition.

Our legal professionals will:

● Prepare necessary documentation for the acquisition

● Powerfully negotiate contracts and agreements

● Specify the terms and conditions of the business purchase

● Provide trustworthy guidance regarding business-related legal entities

● Advise you regarding company structure and organization

We will help you to avoid common legal difficulties and make sure that the purchase agreement is fair to you. Our acquisitions attorneys can identify the motive of the seller to ensure that the sale works in your interests.