How Can an Attorney Help You with Asset Acquisition?

You may not think you need an attorney for your asset acquisition, but you might want to reconsider. Asset acquisition lawyers in Easton MD can help you draft the contract, review the agreement, and negotiate favorable terms.

You may have heard the phrase, “it’s better to be safe than sorry.” This is especially true for asset acquisitions, especially if this is your first time buying a company or business. You’ll need to know how to close escrow, what documentation is required, and what happens if things go wrong.

This blog post aims to answer some of these questions and more! A qualified attorney can help ensure that your rights are protected and will do so at a competitive fee-for-service price.

Prepare All Necessary Documents

Most of the time, asset acquisition will require much paperwork. This can be very time-consuming, especially if you have no idea what you need to do. A business law attorney Maryland specializing in asset acquisition can prepare all the needed documents for you. This way, you don’t have to worry about preparing any document as long as you provide them with all the information they need.

The Key Documents to Prepare:

• Drafting a letter of intent: Your attorney will be able to draft a letter of intent for you so you can get the deal started and let the seller know what your intentions are going forward.
• Drafting a confidentiality agreement: If sensitive information is involved with the asset acquisition, such as trade secrets or other confidential business information, then it may be wise to have a confidentiality agreement to protect this information during the transaction process.

Understanding Legal Documents

A lawyer can help you understand what the legal documents mean and how they will affect your business moving forward. This will ensure that you know exactly what you are getting yourself into before signing on the dotted line.

Identify Transaction Risks

Asset acquisition lawyers in Easton MD can assist you with identifying the risks of the transaction and negotiating terms to limit your exposure to those risks. For example, an attorney can help you determine whether or not there are any third-party consents necessary to complete the transaction and negotiate terms that will require the target company or seller to obtain those necessary consents without any delays.

Negotiate Indemnities

A business law attorney in Maryland can also assist you with negotiating indemnities and limitation of liability provisions so that if there are claims brought against you after closing, you have some protection from those damages and costs. Further, an attorney can advise you on post-closing requirements such as mandatory filings with regulatory agencies or notification requirements with third parties before closing.

Allocation of Purchase Price

If you have more than one asset included in your acquisition agreement, then the allocation of purchase price becomes important. The allocation of purchase price determines what percentage of the purchase price belongs to which asset and how much each asset will depreciate over time.

The IRS requires that this be determined to assess proper taxes on both parties. An acquisition lawyer can do just that for you.

Due Diligence

Before signing a deal or sales transaction, you want to make sure that all of your “ducks are in a row.” Having asset acquisition lawyers in Easton MD by your side to help you conduct due diligence and ensure that everything is in order will allow you to rest assured, knowing that you’re about to make a decision that will benefit your business.

In Short

A Business Lawyer will help you with Asset Acquisition by:

• Evaluating whether an asset purchase makes sense for you
• Determining the value of the assets that are being purchased
• Drafting, reviewing, and negotiating purchase agreements
• Drafting and implementing closing documents

The Bottom Line

Asset acquisition can be a complex process, and an attorney is needed to make sure that the process goes smoothly and legally. For example, suppose an asset includes intellectual property rights (such as a patent). In that case, the patent needs to be transferred properly, so there aren’t any legal disputes down the road about ownership rights. That’s why you need an attorney to help you seal a hassle-free deal.

 

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