Buying or Selling a Business

Preparing for Due Diligence When Selling A Company And Why It Is Important

Anyone who has gone through the process of selling a business knows that it can be a time consuming and tedious process.   Anyone who has gone through the process of buying or selling multiple businesses knows that not all sellers put forth the same effort in preparing their businesses for sale.  The amount of effort […]

Key Issues That Should Be Addressed in a Buy-Sell Agreement for Texas Businesses

Buy-Sell Agreements should be found in every private company with multiple owners.  They are invaluable in any number of situations as a tool to avoid deadlock, discord, receivership, or winding up and termination of a company.  Buy-sell agreements may be separate stand alone documents, they may be part of the entity’s governing documents, or they […]

The Benefits of Using a Letter Agreement When Evaluating a New Venture

In a perfect world, whenever people enter into a business relationship they will outline all of the terms of that relationship at the outset.  This usually involves lawyers drafting joint venture, partnership, or company agreements that address every contingency that may occur during the endeavor. In the real world, people run into an opportunity when […]

Buying a Business in Texas Step #3: Time to Close

After completing the due diligence process, a buyer will have enough information to make a final decision upon closing the transaction.  The Letter of Intent will have laid out the basic process for closing the purchase or sale of the business, but what exactly is involved in closing the transaction? As lawyer’s often state, it […]

Buying a Business in Texas Step #2: Due Diligence

For anyone making a significant investment in a business, the due diligence process is key.  This allows the buyer to thoroughly evaluate the company and make sure that he or she has a clear picture of the business.  The goal is to make sure that after the buyer takes ownership he or she is not […]

Buying a Business in Texas Step #1: The Letter of Intent

Before you can begin the process of purchasing a business one side of the transaction or another will likely seek to have the purchaser issue a Letter of Intent(LOI). A Letter of Intent is typically not a binding contract to purchase the business but it contains several binding terms that provide protection to both the […]

Buying a Business in Texas

I’ve recently been contacted by a series of clients that are buying into existing businesses rather than starting a business from scratch.  They all have various backgrounds, but usually they are involved in some way with the business or industry as a key employee and decide that they want to move into an ownership role.  […]

Texas Buy-Sell Agreements

A lot of SBOs have probably heard the term “buy-sell agreement,” but aren’t really sure what they are, how they work, or why they would need one. What is a buy-sell agreement?  Think of a buy-sell agreement as a sort of prenuptial between business partners.  It is easier to negotiate the terms of a departure […]

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