The following is a general checklist of issues that typically should be addressed in a Business Acquisition Agreement, when buying a business.
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Formation of new Legal Entity or Entities (for purposes of, for example, acquiring the Business Assets, purchase property, enter into lease, etc.).
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Offer to Purchase/Letter of Intent.
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Due Diligence.
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Business Asset Purchase and Sale Agreement.
- Real Estate issues: Purchase & Sale Agreement, Negotiations with Seller, Title Issues, or Lease, if Lease Assignment or New Lease, Negotiations with Landlord.
- Inventory Purchase issues: usable versus non-usable; cost.
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Components and Issues specific to the type of Business you are purchasing.
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Local and State Permitting.
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Supplies: Types of Supplies; Supplier/Vendor information and contracts.
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Employees: Terms of Employment; Termination or Retention issues.
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Cleaning Company for the Premises of the Business
It is important to have advice from experienced professionals when purchasing a business. Such professionals include legal counsel, tax professionals and may include others specific to your industry.