6 Tips for a Less Stressful Small Business Acquisition
June 13th, 2023
Buying or selling a small business can be a stressful, complex, and time-consuming process. Here are 6 tips that can make the process go smoother. Seek professional guidance. A qualified third party, such as an attorney, broker, escrow agent, or some…
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Categories: Acquisitions
NEGOTIATING PAYMENT TERMS
October 28th, 2022
Payment terms may seem relatively straight-forward but can lead to potential issues if not dealt with up front in a contract. Fees and Payment Terms Rarely do parties disagree whether a contract should include the amount of fees a customer would pay…
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Categories: Business Contracts
A ROADMAP FOR SMALL BUSINESS ASSET PURCHASE AGREEMENTS
May 24th, 2021
Asset purchase and sale transactions may be complicated, with hundreds of pages of contracts, schedules, exhibits, and appendices. Or transactions may be relatively short, with just a few key documents. Either way, each acquisition is unique and vari…
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Categories: Acquisitions
RED FLAGS IN ACQUISITION TRANSACTIONS
April 16th, 2021
Generally, small business acquisition transactions can be separated into two buckets: Bucket One. From start to finish, the transaction stays the course. There are some hiccups along the way but the parties (including the attorneys – gasp!) all…
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Categories: Acquisitions
Common Acquisition Contracts
March 12th, 2021
Small business owners are often surprised at the number of contracts necessary to close a business acquisition. While each transaction is unique, here are some of the common legal documents negotiated: Nondisclosure Agreement (NDA): A mutual NDA allo…
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Categories: Acquisitions
Contract Risk Allocation
August 8th, 2019
There is an extensive body of law that describes the types and amounts of damages available if either party breaches a contract. Yet most contracts include terms that allocate more risks to one party, and less risk to the other party. Generally, ther…
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Categories: Business Contracts
Components of a Contract
June 26th, 2019
Contracts are easier to understand if broken down into parts. Unfortunately, those parts (and the labels to identify them) vary greatly from contract to contract. Generally though, business contracts are organized like this: 1. The Beginning of the C…
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Categories: Business Contracts
Nondisclosure Agreements
May 23rd, 2019
The most common type of business-to-business contract is the Nondisclosure Agreement (NDA). Why are NDAs important? NDAs permit a company to disclose valuable information to another company, while protecting the confidentiality of that information. T…
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Categories: Business Contracts
5 Ways to a Simpler Contract
May 6th, 2019
Contracts should be drafted clearly, not with Shakespearian flourish. Words and styles should be reasonably understood by the people signing the contracts. Contracts should be written in plain English. Instead of saying this: “Now, therefore, in co…
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Categories: Business Contracts
What are Reps and Warranties?
March 4th, 2019
Representations and warranties (sometimes called “Reps and Warranties”) appear in many types of agreements. Although similar, representations and warranties have important differences. Representations are statements of present or past facts, whil…
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Categories: Business Contracts