Business brokers play a positive part in bringing buyers and sellers together and they often bring excellent professional background to the deal. But, for business brokers, it is all about the deal.
Because business brokers only get paid if the deal closes, brokers focus on closing the deal. And, their commission checks are high. Brokers have no duty to protect you and have no incentive to work with lawyers who would be your advocates. Broker’s purchase and sale forms are inadequate as they are written to please both the buyer and the seller and, as a result, protect neither. Therefore, we do not recommend using them.
A common scenario we see over and over is this: the deal closes, then issues that should have been handled prior to the closing arise, but with no language in the contract to deal with the situation. The brokers are out of the picture, having covered themselves with the appropriate disclaimer. Having to fix the situation then is both expensive and time consuming.
Whether you are selling your business, or purchasing an existing business, our knowledgeable Skagit business lawyer can help.
At Olympic Legal, we focus on every aspect of the transaction and prepare thoroughly for a business purchase or sale to avoid future problems.
Due diligence is important in ensuring that you are purchasing a sound business and that the value you are paying is there. If you are a buyer, we will help you review existing customer and vendor contracts and determine how they will operate your business once you take it over. We can assist you in the following areas:
As a Skagit business lawyer, Neli Espe and her Olympic Legal team regularly represent individuals who aspire to start a new business. Often, many of these entrepreneurs start their businesses by purchasing an existing business. At Olympic Legal, we advise clients throughout the purchase process, outlining the risks and liabilities, as well as discussing the future needs of the business.
We also represent existing business owners who may be interested in expanding their current operation through the purchase of a similar business. For these clients, we can discuss your available options and how the expansion may change certain aspects of your current business.
If you are thinking about selling your business, we can help devise and arrange a sale that will maximize your profit. Whether you are planning for retirement or are passing a business to a family member, we can help.
We can help with most business legal challenges you might have on the horizon, from litigation of disputes to negotiating and drafting contracts for vendors or service providers. Learn More.