Houston Sales & Business Purchase Attorney
The sale or purchase of a business in Texas, even a small business, can be an unexpectedly complex process with more than a few headaches. Experienced legal counsel from a business purchase attorney is essential to make sure the process runs appropriately, that neither party is being taken advantage of, and no party is left open to unexpected liability down the road. Leigh B. Meineke Law Firm, representing small and medium-sized companies in Houston, Texas and throughout Harris County, can walk you through the process and provide representation to make sure your business transaction is as smooth and profitable as possible.
Key Considerations
Our firm regularly advises clients on identifying and appropriately responding to the initial key considerations that factor in to the process of purchasing or selling a business. Some of these considerations include:
- Are you seeking sale of an entire business, or just the assets? If assets are included, are all assets being transferred? Consider, for example, equipment, materials, employees, intellectual property, and stock options.
- If real estate is involved, is the property part of the transaction?
- Is the business an existing franchise? Are there necessary documents or requirements that are specific to that franchise?
- Establishing the nature of the ultimate business and how it should operate, whether as an LLC, partnership, close corporation, or other entity.
- What changes need to be made to the operating agreement or other governing documents if one or all owners are selling?
- Including a contingency clause in case key aspects of the deal fall through or one party fails to live up to expectations.
- Protecting confidentiality during negotiations and throughout the sale process.
- Regulatory or other legal concerns that may arise as a result of the sale.
- The sale price and establishing who will cover any incidental costs such as inspections, audits, taxes, regulatory reviews, and others that arise.
Due Diligence
A crucial part of any business transfer is the vetting process. Like kicking the tires of a car, a prospective buyer needs to inspect the finances, operations, records, and functions of the business for sale to properly analyze the associated risks. Our firm can help track down and compile the documents a selling business needs, and, if representing the buyer, can give guidance as to what documents to seek out and diligence factors to consider.
Our Houston business law attorneys have years of experience with the required elements of diligence, including:
- Requesting, reviewing and advising on due diligence documents, including identifying undisclosed liabilities or debt burdens
- Drafting letters of intent and information requests
- Drafting or reviewing non-disclosure agreements
- Advising on the legal and business risks of completing the business sale
- Facilitating diligence processes such as inspecting facilities, checking for appropriate licensing and regulatory authorities, auditing tax returns and financial reports, vetting existing customer and vendor lists
Negotiating the Purchase or Sale
Skilled legal advice is necessary to make sure that you not only get the best return on your investment as a buyer or seller of a business, but that you are also protected legally from any hiccups down the line. The attorneys at Leigh B. Meineke Law Firm are well-versed in helping business owners navigate the purchase or sale process from beginning to end. Our firm will guide you through the necessary steps, from preparing the business for merger or sale, to negotiating purchase terms, drafting the appropriate sale documents (asset purchase, business buyout, merger agreements, etc.), through the closing and any post-sale issues that arise.
Experienced, Dedicated Legal Counsel for Houston and Harris County Businesses
For over 20 years, Leigh B. Meineke Law Firm has provided advice, general counsel services, and effective trial advocacy for businesses throughout Harris County, Texas. If you need assistance with the purchase or sale of a business, or with business planning, contractual issues, or a business dispute, please contact our business attorney for a complimentary consultation regarding your legal concern.
