How can a business transactions lawyer help me sell my business?
A business transactions lawyer will assist you in anyway you need help in selling your business. Not just drafting the contracts, but also assisting in business valuation, negotiation, due diligence, conferring with counsel on the buyer side, and the overall organization of the sale.
What does a business transactions lawyer do?
What types of documents does a business transactions lawyer draft?
Most sales involve either an asset purchase agreement, or a share purchase agreement. Beyond the basic purchase and sale agreements attorneys also work on:
- Letters of Intent
- Employment Agreements
- Confidentiality and Non-Disclosure Agreements
- Assignment of Leaseholds
- Promissory Notes
- Non-compete and Non-solicitaton agreements
- Indemnity Agreements
- Other agreements as necessary
If the buyer's side has drafted these documents, your business transactions attorney will review and edit them with your input as part of the negotiation of the sale.
What if I want to sell my business, but have not found a buyer yet?
If you use a Taft Street attorney as your Virtual Corporate Counsel, then you have probably already had discussions about how to best position your business for sale.
If you do not have a general counsel working with you already, we can assist in finding a business brokerage that specializes in selling your type of business. Just like with selling real estate, having an agent on your side promoting your business can be beneficial.
How much does a business transactions lawyer cost?
Florida Business Transactions Lawyer
Contrary to what some would say, the cost of a business transactions lawyer should not depend on the size of your sale. Your lawyer is not your business partner and does not automatically get a portion of your business.
At Taft Street Law we charge a minimum retainer of $5,000 for a basic Sell Your Business package, which includes representation and the forms you need to sell your business. If the sale is more complicated than what our basic package includes, then we charge by the hour after the minimum has been met.
Things that can drive up the price of your business transactions lawyer can be related to having to tidy up loose ends that the business failed to take care of in the past. Old liens on property involved in the sale, past employee conflicts that have not been settled, and other unforeseen events that are sometimes not contemplated by the sellers.
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How do I get started in hiring my business transactions lawyer to help sell my business?
You can either give us a call at (833) 823-8529 or fill out our free consultation form below and a representative will reach out to you.