A boutique law firm
Thrift McLemore works with buyers and sellers to complete the sale of business assets with full legal compliance. Our attorneys understand the unique and complex nature of an asset purchase transaction of both tangible and intangible items, and will apply their legal expertise to address every aspect of the process. Tangible assets can include equipment, machinery, vehicles and inventory while intangible assets can include license rights, business name and logo. An asset purchase often occurs during the sale of the business, and the buyer may or may not be purchasing all of the assets of that entity.
When working with buyers, Thrift McLemore completes due diligence to confirm that the assets are free of liens or other encumbrances. This includes title checks, license audits, lease availability and other actions to confirm that the sale is legitimate and holds no hidden surprises. Our attorneys can also negotiate the purchase price, financing options, non-compete agreements and other conditions that must be satisfied before the buyer is obligated to complete the purchase.
When working with sellers, Thrift McLemore conducts due diligence on the buyer to assure that they have the means, including cash and financing, to complete the transaction as agreed. If the assets being purchased involves a restaurant and/or liquor license, we confirm that the buyers can meet state requirements to obtain those licenses to assure that the sale can be completed. Our attorneys will also negotiate the purchase price and assure that any non-compete agreement is appropriate in relationship to the nature of the assets purchased.
Our aim is to complete the sale and purchase with the best negotiated price and financial structure as possible for our clients. Our attorneys use their business expertise and experience in handling asset purchases for a variety of businesses. We work with your accountant and financial advisors throughout the due diligence process and assure that you fully understand the risks and benefits of the sale. When completed, you will have confidence that every aspect of the sale has been addressed to the highest legal standards.
Asset Purchase Activities
Thrift McLemore will take several actions throughout the asset purchase process. Depending on the nature of the assets, we will:
- Negotiate Assets to be Included in the Purchase
- Conduct Due Diligence
- Confirm Clear Title/Ownership of Tangible Assets
- Confirm Valuation of Tangible Assets Including Inventory
- Confirm Valid Leases and Occupancy Rights (if applicable)
- Confirm Unencumbered Ownership of Intangible Assets
- Confirm Valuation of Intangible Assets Including Good Will
- Confirm that Buyer can Acquire Restaurant and Liquor Licenses (if applicable)
- Negotiate Asset Purchase Price
- Negotiate Non-Compete Agreement
- Finalize the Sale