Purchasing a Business in Utah
Salt Lake Business Lawyer
You may be a Utah entrepreneur who has come across an opportunity to purchase a business at just the right price. Everything on the surface looks good and chances are the numbers are correct, but before you venture toward purchasing a business consult with Salcido Law Firm’s Utah business attorneys. Our attorneys are not only experienced business lawyers but are also business owners and entrepreneurs. Our legal knowledge and experience combined with our own experience with purchasing existing businesses will become invaluable as we advise you in acquiring a business.
The Transaction Must Be Structured Properly
Purchasing a business involves much more than simply setting a price and shaking hands. Before the purchase takes place you must do you due diligence, and proper due diligence includes having a good business attorney reviewing the business model, revenue, profit margins, overhead, contracts, and anything and everything else that is relevant to the business. In addition to an attorney you should have the advise of a good accountant as well.
Once the due diligence is completed and the numbers are verified, you next have to determine how to properly structure the transaction. We will advise you on how best to make the deal happen. In many instances an asset purchase agreement is the way to go. An asset purchase allows you to obtain ownership of the company’s profitability without assuming any liabilities. In contrast, if you simply purchase the company as is you also purchase any liabilities that come with it. Other options include purchasing only certain assets and/or certain liabilities of a business. There is a myriad of options you have when purchasing a business or its assets.
Call us at 801.413.1753 for a consultation. Let us show you how we can bring value to your business and help you expand through asset purchases and acquiring businesses. Call us at anytime 24/7. We’re the business legal team you want on your side.