Purchases of Businesses
Connecticut Business Lawyers – Kocian Law Group
Buying a business can be exciting, but it can also be complicated. Kocian Law Group will ensure that your purchase goes as smoothly as possible. Competent and experienced, our attorneys have handled numerous business purchases.
When you decide to work with Kocian Law Group, you’ll first meet with one of our highly trained lawyers. We’ll go over your existing contract or write you a new contract. We can help guide you to business ownership.
One of the first steps in the business-purchasing process is to compose a “due diligence” list. This list lays out the information you need about the business before you make a final decision whether or not to purchase it.
Common points that appear on due diligence lists include:
- copies of the business’s financial records,
- a list of the business’s shareholders,
- copies of all the business’s deeds, mortgages, and permits,
- copies of all the business’s patents,
- a list of all the business’s employees, including salaries and benefits,
- copies of the business’s tax records,
- information about the business’s liabilities and assets
Because you’ll be gathering a lot of potentially sensitive information about the business, the seller may ask that you sign a non-disclosure agreement. Kocian Law Group can lead you through this process and ensure that your non-disclosure agreement is fair and legally binding.
You may also need to obtain various certifications, permits, licenses, or zoning exceptions before you can operate your business. For example, businesses need an Employer Identification Number (EIN) in order to file taxes and other business documents. When a business changes hands, the new owner is generally required to get a new EIN, even if the seller of the business already had obtained one previously.
Kocian Law Group can help you determine what certifications your new business requires, and we can guide you through the process of obtaining those certifications. We are a full service law firm. When you retain the Kocian Law Group for representation in a business transaction, we can handle all the details from start to finish. We pride ourselves upon building long-term relationships with our clients. Whatever stage of business ownership you’re in, Kocian Law Group stands beside you, looking after your legal needs.