ESSEX COUNTY SMALL-BUSINESS ATTORNEYS
Buying and Selling a Business in New Jersey
Selling a company as a going concern is the preferred exit strategy for many business owners who have decided it is time to move on. At the same time, many entrepreneurs prefer to take over a company that is established in the marketplace rather than risk starting a new business from scratch. A skilled lawyer can bring the two sides together for their mutual benefit.
A. Schancupp & Associates, L.L.C., can represent you, no matter what side of the transaction you are on. We will use our creative, practical approach to help you get the most out of the bargain. Our Essex County small-business lawyers have decades of experience negotiating and finalizing business purchases and sales throughout New Jersey.
Things to Consider in Reaching Business Purchase/Sale Agreements
Sellers have the advantage of knowing the company inside and out. A seller is often very prepared for the transaction, having prepared for it for years. A buyer, on the other hand, comes to the transaction “cold” and must perform extensive due diligence before deciding to finalize a purchase. It is an attorney’s role to work with the client, whether buyer or seller, to create the most advantageous transaction possible, and to ensure that it goes smoothly.
One of the primary issues our business law attorneys address is the removal of any barriers to the sale. That includes reviewing all current contracts in which the business is involved to make sure they contain nothing that would interfere with the sale. We want to avoid situations where, for example, the terms of a commercial lease agreement or existing financing prevent the business owner from selling when he or she wants to.
Types of Business Buying/Selling Transactions
Our lawyers have extensive experience advising clients who are preparing to buy or sell a company. We know how to best structure the deal and protect your interests at all stages, from exploratory talks to nondisclosure agreements to closing. Since our founding in 1965, we have handled all types of buy/sell transactions in New Jersey, including:
- Stock sales and purchases
- Asset sales and purchases
- Transfers of controlling interest
Protecting Your Interests
We do our best to minimize the likelihood of complications during and after the sale. If you are a seller, we will make sure you fulfill disclosure requirements to avoid potential lawsuits or tax issues. We also ensure that the buyer has sufficient resources to complete the transaction and make payments as required. If you are the buyer, we or the professionals we work with will examine the company’s financials and perform thorough due diligence to make sure you know exactly what you are getting in to. We will also review nonsolicitation and noncompete agreements to ensure that the seller does not later become your competitor.