Legal Help for Buying and Selling Businesses
After more than 80 years serving the legal needs of businesses in New Haven and throughout Connecticut, the attorneys of The Pellegrino Law Firm, have a wealth of experience to offer those seeking to buy or sell a business.
For buyers or sellers, our objective is to complete the transaction in a manner that maximizes benefit and minimizes the exposure to risk after the sale.
Selling a Business
The biggest mistake people selling businesses make is to negotiate the transaction before speaking to a lawyer. Often sellers will agree to terms that are disadvantageous. or they may give the other party proprietary information about the business without the protection of a confidentiality agreement.
Our attorneys can provide invaluable advice on how the process works. First, we will discuss how best to structure the deal . For instance, will this be an asset sale or a stock sale?
Next we will consider other issues such as non-competition, tax ramifications and indemnity. We work closely with your tax advisers, financial planners, intellectual property counsel and others to protect your interests at every stage of the transaction.
Buying a Business
The purchase of a business is a major step that requires careful scrutiny of myriad details. After performing due diligence, we give the buyer as much information as possible about the business in advance of the transaction. This risk assessment allows our client to know what they are buying and the risks and benefits associated with the transaction.
We will evaluate all assets, including key contracts with suppliers, customers and vendors. If the transaction is a stock sale, those contracts will stay with the corporation. We will also evaluate potential risks. For example, in a stock sale, you will own all the past problems associated with the corporation, including potential law suits, employee and tax issues. In these cases, we will insist that there be a large enough escrow to cover the potential risks.
We can also assist you in negotiating financing issues with your investment banker or business broker.
Don't find out too late that you could have made a better deal. Contact us early in the process.
To discuss the purchase or sale of a business, please contact The Pellegrino Law Firm in New Haven, Connecticut. Call us toll free at