Setting up your Business (Legally)
So you’ve decided to go into business for yourself … great news!
Owning and operating a business carries a lot of risk. If you do not organize your business as a corporation or LLC, your personal assets, such as your home and savings, are at risk if your business faces legal issues or debts.
Incorporating your business as a corporation or organizing it as an LLC creates a separate legal entity, protecting your personal assets from business liabilities. It also enhances your business’s credibility, making it easier to attract customers and later investors and buyers. It also provides some tax benefits and ensures continuity of the business, even if ownership changes.
If you want to discuss this more or get your corporation or LLC setup right from the start, call the experienced licensed lawyers at ULLENBERG LAW now!
Buying a business
We’re excited you’ve decided to join our list of clients who own their own business!
Now that you’ve located the business you want to purchase, the experienced licensed lawyers at ULLENBERG LAW can help you document your purchase and protect you from liabilities you may not realize exist.
You may need to start with a letter of intent to make sure you and your seller are on the same page as to purchase price, payment terms, included property, and closing date. You will also need a stock or asset purchase agreement confirming those terms and also requiring the seller to stand behind statements they have made to you about the business, its property and prior performance. We can also help you negotiate and create legally enforceable post-closing consulting, employment, non-compete and lease agreements with the seller.
Call us right away when you think you are ready to get your deal documented!
Selling your business
Congratulations on selling your business!
At ULLENBERG LAW, we can help you document your sale and limit your liability after the buyer takes over.
You may need to start with a letter of intent and will need a stock or asset purchase agreement that outlines the sale price, payment terms (i.e. cash at closing or overtime after closing), included property, and closing date. It should also clarify warranties and indemnification provisions.
We can also assist in the due diligence and closing with transferring title and ownership free of liens, winding down your business, and negotiating post-closing consulting and noncompete agreements.
Whether you're just starting to think about selling or have a deal in place, our experienced licensed lawyers are here to help. Call us now!
