Asset Purchase Agreement Attorneys in Newburyport
Buying and Selling a Business in Massachusetts
Asset purchases are complex and involve many formalities that must be met to assure a proper transfer of business assets. When you want your asset purchase or sale done right the first time, you want an attorney who pays attention to the details and has extensive experience in business transactions.
At Mark L. Janos, P.C., our business law attorneys do just that. We represent buyers and sellers in asset purchase transactions in Essex County, Massachusetts, and in Rockingham County, New Hampshire.
What Is an Asset Purchase?
An asset purchase is the financial acquisition of an intangible business asset, such as the purchase of a business. During an asset purchase, the buyer purchases specific assets and assumes specific liabilities of the seller’s business. The seller is able to retain portions of the business, which may include shares of a corporation’s stock or membership interest in a limited liability company (LLC). The seller may also remain responsible for some of the business’ liability. In order to complete an asset purchase, the seller must transfer — and the buyer must assume — ownership of the assets and liabilities agreed upon in the asset purchase agreement.
Our Services for Buyers
Buyers must take several steps before they purchase a business’ assets. For example, they must confirm that they are buying a valid business with valid permits, leases, and more. If the buyer is purchasing the business’ office space or building, they must verify that they have the same right to occupy the space as the seller. Our asset purchase lawyers perform due diligence, title checks, and investigations to provide buyers with the peace of mind that their business deal is legitimate. If there are third parties involved (such as landlords), we will work to negotiate new and effective relationships with them.
Our Services for Sellers
When you sell your business, you do not want to be burdened with excess liability. You may also want to retain certain ownership interests in the business. Our lawyers can review the asset purchase agreement and negotiate for your best interests as an individual and as a business.
Restaurants and Liquor Licenses
We frequently handle restaurant purchases and sales in Massachusetts and New Hampshire. If the restaurant serves liquor, the buyer must go through lengthy municipal and state processes to obtain a liquor license. If a buyer cannot meet the criteria, he or she may not be able to acquire the restaurant.
Our business transaction attorneys will advise you of your rights, responsibilities and liabilities in the restaurant asset purchase and liquor licensing processes.
Contemporary Law Firm With Traditional Values
Call to schedule an initial attorney consultation in our Newburyport law Office.
You can also contact us online.
