Buying or Selling a Business
Golden Law Office can assist you in the buying a business or selling of your commercial business, whether it be the selling of shares of a private corporation, or assets used in a business. From the early stages of negotiations and the letter of intent to the closing of the transaction, Golden Law Office will provide you the legal advice necessary to see your transaction through to completion.
Letter of Intent
A Letter of Intent sets out the basic terms and conditions of an intended transaction which will permit the proposed purchaser to conduct an investigation of the business and affairs of the business (“due diligence”). This obliges the proposed purchaser to maintain the confidentiality of the information received and to only utilize the information in connection with the proposed business acquisition.
Share Purchase or Asset Purchase
You need to discuss with your accountant which type of purchase or sale is best for you. In certain circumstances it may be beneficial, tax-wise, to sell the shares of the corporation.
Share Purchase Agreement
If you are purchasing shares of a corporation, Golden Law Office will prepare a Share Purchase Agreement which sets out all of the terms of the purchase of the shares. When you are buying the shares of a corporation you acquire all aspects of the corporation – assets and all of its liabilities, existing, conditional and future.
Asset Purchase Agreement
If you only wish to purchase certain parts of a corporation, an Asset purchase may be the type of agreement you require. You may also acquire certain liabilities of the corporation as part of the purchase agreement. There is also a requirement for the seller of assets to notify any of its ordinary trade creditors of the bulk sales, failing which the liabilities may attach to the assets purchased. Peggy Golden will assist you in the purchase or sale of the assets and ensure that necessary steps are taken to comply with the bulk sales legislation.
To get help from Golden Law Office when buying a business or selling a business click here and fill out our easy contact form or give us a call.