(416) 648-8499 Mihkel Holmberg (647) 500-0844 Kate Watson
Are you thinking about selling a business? If so, you will do yourself a big favor by seeking legal representation. Holmberg & Watson is an experienced and highly regarded business law firm that helps people sell their businesses and come out on top. We can help you get the most money for your business sale, negotiate the best terms into your legal agreement, and advocate for your best interests at every phase during the sales process.
Why Do I Need a Lawyer if I am Selling a Business?
In most business sales, there is a business broker and a settlement lawyer. Often, one of the parties to the transaction has hired a lawyer. With all of these professionals involved, you may ask, "Why should I spend the money to hire my own lawyer?" To answer this question, you first need to understand the roles of all of the parties involved in the sale.
The broker receives a commission only if the sale takes place, and brokers will generally not help the seller or the buyer after the sale has been completed. The closing attorney or settlement company is a neutral party representing neither the buyer nor the seller and is only responsible to make sure the business is legally transferred at settlement.
The other party's attorney definitely does not represent your interests! Many buyers and sellers do not wish to hire a lawyer because they don't want to complicate the transaction or they've decided that they are going forward regardless of the risk. This would be a mistake! Whether you are buying a business or selling a business, you need your own lawyer to make sure you get the benefit of the bargain you've negotiated. The bottom line is that buyers and sellers have very different interests in these transactions.
Are You Selling a Business?
As a seller, you want to get paid, and you're probably not too concerned about what happens after the sale. You need a reputed Toronto business law firm like Holmberg & Watson to structure the agreements to terminate your obligation to company debt, including the lease. We will include provisions to ensure the receipt of the purchase price from the buyer.
Holmberg & Watson is a reputed and experienced business law firm that can help you through the due diligence process and structure the agreements so you can enforce agreements that induced you to sell your business.
If you are selling a business in Canada, you would do well to at least consult with an expert regarding the legal matters. Holmberg & Watson is glad to provide reliable consultancy on an hourly basis, or we can work with you from start to finish. We can provide you with the timely advice and information you need to come out of your transaction on top!
We will help you avoid a mistake and make more money from your sale. Call us today.