Papering the Deal – what legal documents are needed?
The key legal document for a business transaction will be the buy/sell agreement. Beyond this, ancillary documents may include non-competition/non-solicitation agreements, employment agreements, lease assignments or any other material agreement required to facilitate the transfer and continued operation of the business as a going concern. At this point, the buyer normally has completed its due diligence and any conditions to the deal becoming binding have been removed. The details of any of the necessary agreements will govern what the buyer or seller can require from the other, what representations and warranties the seller may provide to the buyer, and will set out, in writing, the agreement between them. Any verbal representations normally are eliminated so reducing everything to writing is a key task for your business lawyer. Without proper paperwork, the business transaction can be filled with uncertainty. Our goal as your Kelowna based business lawyer is to reduce and/or eliminate as much uncertainty and risk to you as possible.
Contact the experienced team at Montgomery Miles & Stone Law Firm in Kelowna, BC for answers to your Business Law questions.