Guiding You Through The Purchase Or Sale Of A Business

Buying or selling your business is a large decisions that may expose both parties to considerable gains, but also liability. Therefore, both buyers and sellers require detailed legal protections to minimize personal and financial risk.

As any mistake during the purchase or sale process can end up costing you and your business partners dearly, it is important to seek the advice of an experienced business attorney. The cost of an attorney will more than offset the possible problems that your business may experience if the process is not completed properly.

How We Can Help Your Business

At the law firm of Smith + Schwartzstein, our attorneys are experienced in the complexities and nuances of buying a business or selling a business in New Jersey and New York. We assist clients with all aspects of these transactions, including:

  • Asset Purchase Agreements and Stock Purchase Agreements- We can help you determine which type of agreement is best for your transaction, draft it and then negotiate it with the other party.

  • Promissory notes: In any business purchase involving a promissory note, it is wise to have a lawyer review the note and provide a knowledgeable analysis of its implications.
  • Contract drafting and review: We draft legally secure buy-sell agreements. Also known as buyouts, buy-sell agreements protect or continue a business, should it experience an unforeseen circumstance (e.g., death, incapacity, retirement, bankruptcy or divorce of the owner). We also review such agreements to ensure that our clients are protected from undue liability.
  • Due diligence: We guide clients and conduct due diligence investigations to make sure that our clients are actually receiving what they paid for in regard to the physical inventory or the goodwill (the good name and reputation) of the business prior to entering into a purchase or sale of a company. We have represented both sellers and buyers and we are aware of the various issues that should be addressed prior to the final sale transaction. We will also navigate the necessary legal filings and notices to the state.

  • Leases: Most businesses do not own the property on which they are operating. This means that the purchase or sale of a business will frequently involve property leases and landlords.

To schedule a consultation with one of our lawyers, call Smith + Schwartzstein locally at 973-532-2962 or toll free at 800-779-4098, or contact our Morristown office by email.