The process involved with selling a business is highly complex. Business owners and entrepreneurs should never take this process lightly or attempt this on their own. If the correct process isn’t followed, serious legal consequences may occur. Furthermore, a business owner may miss the opportunity of receiving maximum value for the sale of a business.
At Hoeg Law, we help quarterback the often difficult process involved with the sale of a business. With many years of experience in mergers & acquisitions transactions, we understand every aspect of this process. Using this knowledge, Hoeg Law provides strategic and ultimately emotional counsel for what is a big decision and set of events for the seller.
Learn more about selling a business in Michigan below or contact us for a free consultation today.
How We Help Owners Sell a Business
Hoeg Law has years of experience in guiding small business, mid revenue business, and even larger companies through various stages involved in business transactions. Below are several ways our law firm helps business owners and entrepreneurs to facilitate the sale of a company.
General Counsel – At the end of the day, this is a big decision. Having feedback from others, especially those experienced with the sale of a business is crucial. At Hoeg Law, we’ve had consulted with many business owners over the years. This includes discussing all aspects of what a sale of the company will mean, and offer items for additional consideration (overall price, earn out requirements, treatment of employees after sale, transition service agreements).
Business Purchase Agreements – We help with the drafting and review of business purchase agreements including any notes, equity grants or accelerations, real property components, contract assignments, etc. This agreement is essential in ensuring compliance with various federal and state laws and ultimately protecting yourself against liability.
Term Sheets – Term Sheets are the roadmap to the funding and the very first document that will be negotiated and finalized. They set forth all of the material terms of the funding, from economics to governance, and while they are not (generally) binding, deviation from them in the course of drafting definitive documents will extract a toll in negotiations. We’ve had many business owners come to us either with a term sheet in hand or one pending.
Multiple Buyers – We counsel on how to deal with the process of keeping multiple parties happy while negotiating terms.
Due Diligence Process – We help clients get their due diligence process in place for examination by the buyer.
Disclosure Schedules – Our law firm helps with drafting disclosure schedules and describing the business for use with the purchase agreement.
Lawyer for Selling a Business
Regardless of whether you’ve been planning the sale of your company for a long time, or you need sudden exit strategy, it’s necessary to consult with a business law attorney that’s experienced with commercial transactions in your state. Doing so can help in the negotiations, maximize the value of your transaction, and ultimately, protect you from liability.
Hoeg Law can help draft your business purchase agreements, negotiate terms, assess your levels of liability and obligations, and ultimately, quarterback this difficult process.