Buying or Selling a Business

Selling a Business

Gary Maddux, a Martindale-Hubbell “Preeminent” Top 5% Lawyer, has assisted clients sale and purchase businesses in transactions ranging from $5,000 to in excess of $100,000,000.  Obviously, we had to scale down and focus our efforts for smaller deals so that the legal representation could be cost effective. The legal parameters and efforts for larger deals are obviously more complex and involved.

I was previously employed as an Associate General Counsel to a Fortune 200 Corporation where my practice focused on buying businesses.  In that position I was involved in most areas of the acquisition process. I was intimately involved in the negotiations and, of course, preparing, responding and drafting changes to the purchase and sales agreement. Through that experience, I had a very valuable inside look at the acquisition process.  Through this experience I have gained incites to the process a purchaser of a business goes through and use that experience as I represent clients sell their businesses.

I have also represented many clients in buying and selling businesses in my private law practice. The size of these deals have been very small to as large as in excess of $100,000,000.  See “Legal Aspects of Selling Your Business” an article I have prepared which provides a detailed summary of the legal process of selling your business.

Buying a Business

Obviously, the experience I described in the previous section is directly applicable when representing clients who are purchasing businesses. The process of purchasing a business is much more difficult than selling a business. Great time is spent evaluating the target’s financial position, legal position, quality of business relationships, and so forth through the due diligence process. Also, typically the purchaser prepares the Purchase Agreement. In that agreement, the purchaser will demand strong representations and warranties, indemnification provisions, non-competition provisions, and so forth. The difficulty is not only negotiating a tight agreement, but also trying to make certain you have considered all relevant issues pertaining to the target and have conducted a thorough due diligence investigation. Then you must consider the optimal tax structure for the acquisition? And certain purchasers with taxable estates should carefully consider

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Tulsa, OK 74114
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