Selling a Business – Getting your Business ready for Sale

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You've got homework to do before you can successfully sell your small business.  Even if you already have an interested buyer, attention to the details at this stage of the game will help you in the long run and protect you from unexpected…

Buying or Selling a Business – the Significance of the Lease

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It is rare that a business in New York owns the property from which it operates.  Most businesses rent commercial space for their store/restaurant/warehouse or other venture.  Thus, the owners of the business will be party to a lease with…

Asset Sale versus Stock Sale

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When you are buying or selling a business and the business is operated by a corporation or LLC, you have the option of an asset sale versus a stock sale.  What is the difference, you ask.  Let me explain. LIABILITIES FOR DEBTS Scenario 1:…

Buying a New York Business – What a Business Attorney can do for You

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Buying a New York business involves many steps, legal considerations and documents.   I think almost anyone would be well advised to seek the help of a New York business attorney to make the purchase successful and legally sound.  This post…

Preparing your Business for Sale/Starting your Internet Business LLC

I've pretty much had given up exercise for blogging.  But since I figured out a way to take blogging to the gym, I've been back.  I make it bearable by listening to podcasts, the audio version of blogs.  Today I listened to (and…

Five Steps to Buying a Small Business in New York – Part 5: Closing the Deal

See Part 1 here; Part 2 here; Part 3 here; Part 4 here; Part 5 here; Finally, the day of the closing on your small business purchase has arrived. The parties and their attorneys come together for the final handshake on the deal. All of…

Five Steps to Buying a Small Business in New York – Part 4: Documenting the Deal

See Part 1 here; Part 2 here; Part 3 here; Part 4 here; Part 5 here; The purchase of a small business requires many legal agreements and documents to effect the transaction.  Obviously, you need an experienced attorney to draft and/or…

Five Steps to Buying a Small Business in New York – Part 3: Due Diligence

(See Part 1 here; Part 2 here; Part 3 here; Part 4 here; Part 5 here;) Due diligence is the process of investigating the business you are planning to buy inside and out;  lots of files to look at, numbers to crunch and agreements to review. …

Five Steps to Buying a Small Business In New York – Part 2: Negotiating the Terms of the Deal

See Part 1 here; Part 2 here; Part 3 here; Part 4 here; Part 5 here; Once you have found a business that seems like a worthwhile acquisition (a “target”), you are ready to negotiate the terms of the transaction.  But what are the typical…

Five Steps to Buying a Small Business in New York – Part 1

See Part 1 here; Part 2 here; Part 3 here; Part 4 here; Part 5 here; This is the first in a series of five posts working through the process of buying a small business in New York. This series will focus on the legal aspects of such a transaction…