Business Sale and Purchase

Phases of Sales and Purchases

Every sale and purchase of a business is unique to the situation but there are common phases that require focused attention to detail. Thrift McLemore provides this comprehensive representation to our clients through these process levels that include:

• Legal Compliance. Our attorneys begin the process by assuring that the business to be sold or purchased is compliant with all local, county, state and applicable federal laws to avoid delays or nullification of the deal.
• Pre-Negotiation. Before the beginning the actual sale or purchase process, we work with our clients to negotiate the key points of the deal and prepare a letter of intent.
• Due Diligence. We conduct a thorough investigation of the business, including the existence of any liens, lawsuits or other factors. For those selling a business, we determine if the potential buyer is making a legitimate bid on the company and has the financial ability to complete the transaction.
• Valuation. Using information gathered during due diligence, we work with accountants and our clients to determine the value of the business. For buyers, we may prepare an initial offer and for sellers we will set an asking price.
• Purchase Type. The sale and purchase of a business may occur in two ways: through the purchase of assets only or the purchase of stock. We work with our clients to assure that they understand the tax, debt and liability issues associated with these buy/sell options and help select the one that best fits their circumstances.
• Documentation Preparation and Filings. This type of legal transaction requires the drafting and execution of numerous documents, including non-compete agreements, licenses, vendor contracts, intellectual property, zoning and the master agreement. Our attorneys will create these documents to be legally binding and best serve the interests of our clients. In addition, will file all documents with the appropriate authorities, acquire necessary approvals and address other matters of this complex process.

Buying and selling a business is a complex undertaking and we have the knowledge and experience to achieve the best outcome for our clients.

Our Aim

Our aim is to assure that every phase of the business purchase and sale process is executed to the highest legal standards. Thrift McLemore will assure that you are protected from hidden liabilities and receive everything you expect when the deal is complete.

Business Sale/Purchase Activities

Thrift McLemore will conduct several activities throughout the sale or purchase of a business, which may include:

• Assess and Confirm the Legal Status of the Business
• Execute a Non-Disclosure Agreement
• Conduct Initial Negotiations
• Prepare a Letter of Intent
• Conduct Due Diligence
• Valuate the Business Including Assets and Stock Pricing
• Set an Offer or Asking Price
• Prepare the Master Agreement
• Prepare all Schedules, Filings and Other Required Documents
• Negotiate a Non-Compete Agreement
• File Documents as Required
• Finalize the Sale of the Business