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So, you are thinking of buying a business?  What types of documentation or information should you be seeking from the seller before you agree on a price, sign documents, or pay any money?  This list will get you started:

  1. Seller entity information
    2.         Documents necessary to discover the seller’s full financial Information
    3.         Physical Assets of the seller
    4.         Real Estate (owned and leased)
    5.         Intellectual Property owned by the seller or to which the seller has rights
    6.         Employee contracts and employee benefits owed
    7.         Licenses and permits held by the seller
    8.         Environmental due diligence
    9.         Taxes (including verification) owed
    10.       Material contracts with the seller’s customers and suppliers
    11.       Customer information
    12.       Currently pending or threatened litigation
    13.       Insurance coverage
About the Author

Jay Young is a Las Vegas, Nevada attorney. His practice focuses on business law, business litigation, and acting as an Arbitrator and Mediator. Peers have named him an AV-Rated Lawyer, Best Lawyers, a Top 100 Super Lawyers in the Mountain States multiple years, and to the Legal Elite and Top Lawyers lists for many years. Mr. Young has been appointed a part time Judge, a Special Master to the Clark County, Nevada Business Court, as an arbitrator by the Nevada Supreme Court. He has been appointed as an arbitrator or mediator of well over 250 legal disputes from business disputes to personal injury matters. He has been named Best Lawyers for Arbitration. Mr. Young is a respected author of ten books, including A Litigator’s Guide to Federal Evidentiary Objections, A Litigator’s Guide to the Federal Rules of Evidence, and the Federal Court Civil Litigation Checklist.
Mr. Young can be reached at 702.667.4868 or at jay@h2law.com.

 

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