One of my rituals every morning is zooming around the blog-o-sphere and the news sites to see what is new in the world. I always find a few interesting articles and I tweet them throughout the day. You can find me on Twitter @David_B_Willis if you want to follow me. This morning, I came across… Continue Reading
Category Archives: Buying/Selling a Business
Using Vested Interests to Protect Against Equity Interests Earned Through Service to a Small Business
In the small business arena you frequently find companies with ownership earned by different means. A prime example is the small business with one owner whose interest was earned via cash contributions[the "Cash Partner"] and another owner whose interest was earned based on services he will provide to the entity through unique skill or knowledge… Continue Reading
The Benefits of Using a Letter Agreement When Evaluating a New Venture
In a perfect world, whenever people enter into a business relationship they will outline all of the terms of that relationship at the outset. This usually involves lawyers drafting joint venture, partnership, or company agreements that address every contingency that may occur during the endeavor. In the real world, people run into an opportunity when… Continue Reading
Buying a Business in Texas Step #3: Time to Close
After completing the due diligence process, a buyer will have enough information to make a final decision upon closing the transaction. The Letter of Intent will have laid out the basic process for closing the purchase or sale of the business, but what exactly is involved in closing the transaction? As lawyer’s often state, it… Continue Reading
Filed Under: Buying/Selling a Business
Buying a Business in Texas Step #2: Due Diligence
For anyone making a significant investment in a business, the due diligence process is key. This allows the buyer to thoroughly evaluate the company and make sure that he or she has a clear picture of the business. The goal is to make sure that after the buyer takes ownership he or she is not… Continue Reading
Filed Under: Buying/Selling a Business
Buying a Business in Texas Step #1: The Letter of Intent
Before you can begin the process of purchasing a business one side of the transaction or another will likely seek to have the purchaser issue a Letter of Intent(LOI). A Letter of Intent is typically not a binding contract to purchase the business but it contains several binding terms that provide protection to both the… Continue Reading
Filed Under: Buying/Selling a Business
Buying a Business in Texas
I’ve recently been contacted by a series of clients that are buying into existing businesses rather than starting a business from scratch. They all have various backgrounds, but usually they are involved in some way with the business or industry as a key employee and decide that they want to move into an ownership role. … Continue Reading
Filed Under: Buying/Selling a Business
Texas Buy-Sell Agreements
A lot of SBOs have probably heard the term “buy-sell agreement,” but aren’t really sure what they are, how they work, or why they would need one. What is a buy-sell agreement? Think of a buy-sell agreement as a sort of prenuptial between business partners. It is easier to negotiate the terms of a departure… Continue Reading
Filed Under: Buying/Selling a Business, Contracts