Buying or Selling a Business in ChicagoA change of ownership of a business can be an intricate matter. Sellers must partition themselves from liability after the transaction closes. Buyers must be aware of the potential liabilities to which they may be exposed going forward.
Potential issues can involve valuations, financing, relationships with employees and other stakeholders, property transfers, operations issues, real estate, equipment, inventory, goodwill, intellectual property, and other assets. Realized and potential liabilities also should be taken into account, along with any covenants not to compete by sellers and employees who may be leaving.
Our firm can assist with due diligence, obtaining any valuations that may be needed, and drafting and reviewing the relevant documents to ensure that your rights are protected. We also can explain your rights and responsibilities during and after the change of ownership, and help you make informed and proactive choices.
While there are many details that require attention, this kind of transaction can be very exciting. We can guide you through the process so that it is completed accurately, and so that your interests are protected.