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We have advised clients on the purchase and sale of their businesses for over 15 years. Recently, we have provided legal advice on the following matters: sale of software company; sale of turfgrass operations; purchase of a cleaning business; and purchase and financing of a franchised business.
The legal work involved in the purchase and sale of shares of a company is different than in the case where assets of a business are being bought or sold. For instance, although there are fewer legal documents to draft for a share purchase transaction, we are often asked to conduct more indepth due diligence when we are acting for the purchaser as the purchaser will not only take on all of the assets, but also all of the liabilities and other obligations of the company. With an asset purchase transaction, the purchaser can specify exactly which assets and which liabilities of the business it is buying. In both cases, one of the most time-consuming parts of the transaction often revolves around identifying any requirements to obtain the consent of third parties such as creditors or to notify such third parties about the transaction.
If you are thinking of purchasing or selling your business, please click here to access some information which we hope will answer some of your questions. Please contact us to receive further information about our legal services or to arrange for a confidential initial consultation about your legal issues.
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