Small Business Purchase & Sales Attorneys in White Plains, New York
Buying or selling a business can be a big step in your life. You have been thinking about it for months, possibly even years, and now this day has come. While purchase and sale of a business can be an exciting time, it can also be downright frustrating for both the buyer and the seller.
That’s because everyone involved in the process is trying to get the best deal that they can. Everyone purchasing a small business wants to make sure their investment is worth it, while every business owner wants to sell for the highest amount possible. How can both parties get what they want? That’s where an attorney can help.
At Rutkin & Wolf PLLC, we understand business purchase and sale transactions from the perspective of both the buyer and the seller. Whether you are buying someone else’s business or selling the business you worked hard to build, our small business purchase and sales attorneys in White Plains, New York, can help protect your interests.
Our Services for Those Buying a Small Business
Purchasing a small business that was established by someone else can be a great way to enter into the business world without having to go through all the steps of setting up a new entity from scratch. While this can be convenient, you need to make sure you know exactly what you’re getting into. That’s where you may need the help of an attorney. At Rutkin & Wolf PLLC, we assist buyers of small businesses with the following:
Providing advice on their first steps when purchasing a small business
Preparing a letter of intent
Reviewing the purchase agreement and explaining confusing terms in plain language
Negotiating more favorable terms of the purchase agreement with the seller
Performing comprehensive research on the business
Checking for liens and judgments
Preparing and reviewing closing documents
Representing the buyer’s interests at closing
As White Plains small business purchase and sales attorneys, it’s our job to make sure your investment is secured and primed for success. We want you to feel comfortable putting your signature on the dotted line and do whatever we can to minimize financial risks and legal liability issues.
Our Services for Those Selling a Small Business
Selling a business isn't just about finding any buyer—it's about finding the right buyer and making sure you get the best deal possible. All those years (or decades) of hard work and dedication shouldn’t be for nothing. At Rutkin & Wolf PLLC, we guide owners of small businesses through all the steps of selling their business by providing the following services:
Providing advice on their first steps when selling a small business
Reviewing and responding to the buyer’s letter of intent
Drafting and negotiating a purchase agreement and other relevant agreements
Procuring all information related to the business’s assets and liability, including any outstanding liens
Making sure all current contracts are properly terminated and otherwise disposed of to avoid legal issues
Preparing closing documents
Ensuing full payment on closing
Representing the seller’s interests at closing
Our small business purchase and sales attorneys will guide you through every stage of the transaction to ensure everything is executed properly. We will be there to make sure you walk away from your business sale with all the money that is owed to you.
We Also Conduct Due Diligence in Small Business Purchase and Sales
Just because you are buying a “small” business doesn’t mean you can skip the due diligence process. During this process, the seller and the buyer examine the business’s operations, finances, liabilities, and records, to accurately assess all the risks associated with the transaction. Our attorneys at Rutkin & Wolf PLLC help buyers and sellers obtain and organize all the documentation necessary to ensure transparency and accuracy. Our due diligence services include:
Helping parties agree on the scope of due diligence
Preparing or reviewing the due diligence documentation, including legal and financial documents
Facilitating due diligence processes
Representing the client during visits to the business’s location
Assessing legal and financial risks associated with the purchase
Properly addressing any apparent legal and financial risks that could reduce the business’s value or cause the deal to fall apart
Buying or selling a small business isn’t just a transaction. It’s a step that requires careful consideration. And due diligence serves as the bedrock of trust between buyers and sellers. Whether you are a seller or buyer, our New York small business purchase and sales attorneys at Rutkin & Wolf PLLC know how to best advocate for your interests during every stage of the due diligence process.
And We Handle Post-Closing Disputes
In many cases, the buyer and seller of a small business will never be in contact again after closing. However, it’s not uncommon for the parties to be embroiled in disputes after a purchase or sale is finalized. Our attorneys at Rutkin & Wolf PLLC have helped buyers and sellers resolve these disputes amicably to prevent costly and lengthy court battles. Common causes of post-closing disputes include:
Contingent payments or “earn-out” clauses
Indemnification demands
Lawsuits filed by third parties for incidents that occurred before the closing
Breach of representation and warranties
Working capital
While most disputes after buying or selling a small business can be resolved through negotiations between the buyer and seller, some disputes can escalate to litigation. If you have recently become a new owner of a small business or sold your small business to someone else and now you and the other party are involved in a dispute, contact our attorneys at Rutkin & Wolf PLLC to get tailored solutions.