The buying or selling of a business, from a legal standpoint, is about far more than contracts. While the final deal is important, and it is, in fact, the contract that legally finalizes that deal, setting forth the rules, rights, and responsibilities of all parties involved, your attorney is a far more valuable resource than just someone to check over the paperwork. Business sales and acquisitions begin at a point of negotiations, and working with an attorney who knows the best deal to make, and how to get it, can make all the difference in coming out of a business deal completely satisfied.
Art of Business Acquisitions
When people think of buying and selling, they usually think about cash transactions alone: the exchange of immediate payment for a property between two parties. Cash transactions are only one means of acquiring a business to add to your company portfolio, though, or of selling a business that is no longer in your company’s interests to keep. Exchanges, stock purchases, restructuring, buyouts, and auctions are some other means of moving a corporate property, and your business acquisitions attorney can help you determine which will be the most cost-effective and financially stable option for your company.
Taxes and Other Financial Considerations
Income is income, and letting go of a declining property always seems like a good idea when you are watching profits drop. When you are preparing to buy or sell to add to your businesses properties, though, it is important to keep in mind that the financial implications may go beyond the sales price. A large influx of income to your company can be devastating when the tax bill comes in. Your business attorney will help you with the finances, providing you valuable insight as to when it is best for you to hold and best for you to sell or buy.
Buying or Selling Businesses in Florida
When you are looking to buy or sell a business in Florida, you don’t need to call an attorney right before the deal is made. Your attorney is essential to the planning process. Melody Cobbe helps clients in Broward and Palm Beach Counties research the businesses they look to buy, explore their financial situation to determine the right time to make such bold financial moves, and negotiate the best deals for their companies before they sign the contract.