Buying a Business—Asset Sale vs. Equity Sale

When considering the sale of a business, the legal structure of the sale is an important initial consideration. Two of the most common ways of structuring the sale of a privately owned company are: asset sales and equity sales. Determining the structure may be...

Preparing to Sell Your Business

If you were selling your car, you’d probably have it detailed or, at least, take it for a car wash. If you're considering selling your business, it is worth doing likewise. Even before offering the business for sale, there are a number of steps...

Letters of Intent… binding, non-binding, necessary?

I am asked, "Are letters of intent binding?" Well, I answer the question, but ask "Are they necessary for your deal?"  Here are a few thoughts on the subject... What is a Letter of Intent? Ideally, a letter of intent (LOI), a.k.a., a memorandum of understanding or...

ADR Ethics…

Three New Rule Amendments Proposed by the Advisory Council
Should alternative dispute resolution service companies be allowed to operate free of attorney ethics rules? Consider the following... ADR... In short, alternate dispute resolution ("ADR") refers to any means of resolving a dispute other than litigation. Common forms of ADR include arbitration and mediation. In certain...

Can I convert my business?

  Dear Clients, Friends and Colleagues, Very often, liability can be reduced or the financial and operational goals of business owners can be better achieved by changing a company’s legal structure, e.g., general partnership (GP) to limited liability partnership (LLP), for-profit corporation to non-profit corporation, corporation...

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