Experienced Corporate Lawyers Helping Clients Buy & Sell Business
At Cherkowski Marsden LLP in Vernon & Salmon Arm, we help entrepreneurs and business owners minimize risk and maximize opportunity when buying or selling businesses. With decades of experience guiding clients through business transactions, our seasoned corporate lawyers can help you navigate the legal, tax, financial, and real estate considerations involved in the sale or purchase of a business. We assist clients of all sizes, from start-ups and new ventures to multi-national corporations, and pride ourselves on the strong relationships we build with our loyal client base. Our lawyers are highly knowledgeable and extremely skilled practitioners who are also innovative, progressive, and tech-savvy.
Selling a Business
After spending time, money, and manpower developing, growing, and evolving your venture, selling your business can be a daunting task and a big decision. Doing your homework, planning in advance, and consulting with a knowledgeable business lawyer will help you obtain the best price and minimize your risk. The corporate lawyers at Cherkowski Marsden LLP can help you identify risk, mitigate potential issues and ensure a successful transition.
When selling a business, there are generally two main methods for how to proceed:
- a sale of business assets; or
- a sale of shares.
For the seller of a business, a sale of shares is usually the most beneficial from a tax perspective, and it affords the seller a clean break from the business in one transaction.
The buyer of a business, however, may prefer to purchase individual assets rather than the company as a whole. If proceeding by way of an asset purchase, the seller is obligated to sell the assets free of any liabilities, such as creditor claims or liens. On the other hand, there are certain tax and licensing considerations that could make the purchase of an entire business attractive as well.
Buying a Business
As an entrepreneur, buying a business can be less risky than starting from square one with a new venture. Acquiring an existing company has the benefit of an established customer base and brand recognition within the industry and community. However, it is crucial to do your due diligence before moving forward with the purchase of a business to ensure it is profitable, sustainable, and legally sound.
At Cherkowski Marsden LLP, we can help you evaluate a prospective business, assess your options, ensure you pay a fair price, and successfully grow your new venture. We will thoroughly and meticulously review financial statements, employee contracts, inventory lists, holdings and assets including any intellectual property, commercial leases, and any and all other relevant documentation related to the operating of the business to prevent you from inheriting unknown complications or liabilities that may hinder the purchase or affect your bottom line.
Business Lawyers with Over Fifty Years of Experience Guiding B.C. Businesses
Contact the highly skilled business lawyers Cherkowski Marsden LLP at our office in Vernon or Salmon Arm, if you are thinking of buying a business or selling a business venture. We will skillfully guide you through the process to mitigate risk and protect your interests. We work with business professionals at all levels and across a wide range of industries and can. Contact us online or at 250-308-0338 (Vernon office) or 250-803-9171 (Salmon Arm office) to put our extensive experience to work for you.