When a business grows to such a degree that large competitors take notice or that acquiring a competitor becomes feasible, then it may be time to think about pulling the trigger on a large-scale business deal. Whether selling or purchasing, businesses that are merging or undergoing massive asset transfers are particularly susceptible to legal problems.
These problems range from questions about understanding just what assets are being transferred, whether existing debts and other liabilities of the seller are transferred to the buyer, what recourse do the parties have for their possible damages, and just how, exactly, everyone is going to get paid. Merging businesses is a complex, multi-step process that should not be entered into lightly or without the utmost preparation and caution.
The business lawyers at Asheville Legal are skilled in understanding what those likely liabilities are going to entail. We have due diligence checklists, and can draft stock transfers, assets purchases, and assist in creating business entities designed to facilitate the transfer and protect you during the acquisition process. If you’re thinking about selling your business or acquiring another business, we highly recommend reaching out and contacting us first.
In the meantime, if you would like to know more about the legal complications associated with mergers and acquisition, check out the following posts on our law blog:
"InnerCity FiberNet, LLC engaged Mike Wimer's law firm to represent us in a complex, multi-million dollar acquisition, to great results. We found their professionalism and expertise to be absolutely invaluable in this transaction."
Greg Stilwell, Managing Partner, InnerCity FiberNet, LLC – Texas