{"id":3576,"date":"2016-03-10T18:26:24","date_gmt":"2016-03-10T18:26:24","guid":{"rendered":"http:\/\/ericperkinslaw.raisonbrandsdev.com\/?page_id=3576"},"modified":"2016-06-03T14:09:18","modified_gmt":"2016-06-03T14:09:18","slug":"buying-or-selling-a-business","status":"publish","type":"page","link":"https:\/\/ericperkinslaw.com\/buying-or-selling-a-business\/","title":{"rendered":"Buying or Selling a Business"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_section-ab6a72baade007e549c60b52e59dcbd4\">\n.avia-section.av-av_section-ab6a72baade007e549c60b52e59dcbd4{\nbackground-color:#ffffff;\nbackground-image:url(https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/02\/header.jpg);\nbackground-repeat:no-repeat;\nbackground-position:0% 0%;\nbackground-attachment:scroll;\n}\n<\/style>\n<div id='av_section_1'  class='avia-section av-av_section-ab6a72baade007e549c60b52e59dcbd4 main_color avia-section-large avia-no-border-styling  avia-builder-el-0  el_before_av_section  avia-builder-el-first  avia-bg-style-scroll container_wrap sidebar_right'  data-section-bg-repeat='no-repeat'><div class='container av-section-cont-open' ><main  role=\"main\" itemprop=\"mainContentOfPage\"  class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-3576'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_one_full-40e04e59702ace7aa4422b20c9839dbe\">\n.flex_column.av-av_one_full-40e04e59702ace7aa4422b20c9839dbe{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-av_one_full-40e04e59702ace7aa4422b20c9839dbe av_one_full  avia-builder-el-1  el_before_av_one_fifth  avia-builder-el-first  first flex_column_div av-zero-column-padding  '     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-1832c8f89538d545b554277508d5f4cc\">\n#top .av-special-heading.av-av_heading-1832c8f89538d545b554277508d5f4cc{\npadding-bottom:10px;\ncolor:#628498;\n}\nbody .av-special-heading.av-av_heading-1832c8f89538d545b554277508d5f4cc .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-av_heading-1832c8f89538d545b554277508d5f4cc .special-heading-inner-border{\nborder-color:#628498;\n}\n.av-special-heading.av-av_heading-1832c8f89538d545b554277508d5f4cc .av-subheading{\nfont-size:18px;\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-1832c8f89538d545b554277508d5f4cc av-special-heading-h1 custom-color-heading blockquote modern-quote  avia-builder-el-2  el_before_av_textblock  avia-builder-el-first '><h1 class='av-special-heading-tag'  itemprop=\"headline\"  >The 5 Stages of Buying or Selling a Business<\/h1><div class='av_custom_color av-subheading av-subheading_below'><p>Buying or selling a small business can be the most significant business transaction of an entrepreneur\u2019s life.<\/p>\n<\/div><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-av_textblock-0366cc7376be6c9e82a3e9cc8987b64f '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p style=\"text-align: left;\">Small businesses are unique\u2014they are more personal, riskier, and more creative than larger, publicly held companies. Even the simplest small business acquisition will involve dozens of logistic issues and legal documents. Perkins Law has an excellent track record of closing small business deals in a timely and cost-effective manner.<\/p>\n<p style=\"text-align: left;\"><strong>Every transaction is different, but most involve these five basic stages:<\/strong><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-1ecce062c19030641ff45b8d298299b6\">\n#top .hr.hr-invisible.av-av_hr-1ecce062c19030641ff45b8d298299b6{\nheight:65px;\n}\n<\/style>\n<div  class='hr av-av_hr-1ecce062c19030641ff45b8d298299b6 hr-invisible  avia-builder-el-4  el_after_av_textblock  avia-builder-el-last '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><\/p><\/div><div class='flex_column_table av-av_one_fifth-b512f735b81fd88422e0340f476b7bac sc-av_one_fifth av-equal-height-column-flextable'>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_one_fifth-b512f735b81fd88422e0340f476b7bac\">\n.flex_column.av-av_one_fifth-b512f735b81fd88422e0340f476b7bac{\nborder-radius:0px 0px 0px 0px;\npadding:5px 5px 5px 5px;\nbackground-color:#628498;\n}\n<\/style>\n<div  class='flex_column av-av_one_fifth-b512f735b81fd88422e0340f476b7bac av_one_fifth  avia-builder-el-5  el_after_av_one_full  el_before_av_one_fifth  first flex_column_table_cell av-equal-height-column av-align-top av-animated-generic pop-up  column-top-margin'     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-0eabcb8162859d5f3787c69ce8ff1969\">\n#top .hr.hr-invisible.av-av_hr-0eabcb8162859d5f3787c69ce8ff1969{\nmargin-top:-40px;\nheight:1px;\n}\n<\/style>\n<div  class='hr av-av_hr-0eabcb8162859d5f3787c69ce8ff1969 hr-invisible  avia-builder-el-6  el_before_av_image  avia-builder-el-first '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_image-827ad4543843294ff8431e0447106b7c\">\n.avia-image-container.av-av_image-827ad4543843294ff8431e0447106b7c img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-av_image-827ad4543843294ff8431e0447106b7c .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-av_image-827ad4543843294ff8431e0447106b7c av-styling- av-img-linked avia-align-center  avia-builder-el-7  el_after_av_hr  el_before_av_textblock '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><a href=\"#strategic-planning\" class='avia_image '  aria-label='clipboard-circle'><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-3754 avia-img-lazy-loading-not-3754 avia_image ' src=\"https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/clipboard-circle.png\" alt='' title='clipboard-circle'  height=\"72\" width=\"72\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/clipboard-circle.png 72w, https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/clipboard-circle-36x36.png 36w\" sizes=\"(max-width: 72px) 100vw, 72px\" \/><\/a><\/div><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_textblock-0495ba487d93331d0a255e1072a23468\">\n#top .av_textblock_section.av-av_textblock-0495ba487d93331d0a255e1072a23468 .avia_textblock{\ncolor:#ffffff;\n}\n<\/style>\n<section  class='av_textblock_section av-av_textblock-0495ba487d93331d0a255e1072a23468 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock av_inherit_color'  itemprop=\"text\" ><p style=\"text-align: center;\"><strong>Strategic Planning<\/strong><\/p>\n<\/div><\/section><\/p><\/div><div class='av-flex-placeholder'><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_one_fifth-e374df27e22238709bf4adf396597754\">\n.flex_column.av-av_one_fifth-e374df27e22238709bf4adf396597754{\nborder-radius:0px 0px 0px 0px;\npadding:5px 5px 5px 5px;\nbackground-color:#9eaab1;\n}\n<\/style>\n<div  class='flex_column av-av_one_fifth-e374df27e22238709bf4adf396597754 av_one_fifth  avia-builder-el-9  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_table_cell av-equal-height-column av-align-top av-animated-generic pop-up  column-top-margin'     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-0eabcb8162859d5f3787c69ce8ff1969\">\n#top .hr.hr-invisible.av-av_hr-0eabcb8162859d5f3787c69ce8ff1969{\nmargin-top:-40px;\nheight:1px;\n}\n<\/style>\n<div  class='hr av-av_hr-0eabcb8162859d5f3787c69ce8ff1969 hr-invisible  avia-builder-el-10  el_before_av_image  avia-builder-el-first '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_image-db8943c7405916fff49cf547c86149e9\">\n.avia-image-container.av-av_image-db8943c7405916fff49cf547c86149e9 img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-av_image-db8943c7405916fff49cf547c86149e9 .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-av_image-db8943c7405916fff49cf547c86149e9 av-styling- av-img-linked avia-align-center  avia-builder-el-11  el_after_av_hr  el_before_av_textblock '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><a href=\"#letter-of-intent\" class='avia_image '  aria-label='letter-circle2'><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-3757 avia-img-lazy-loading-not-3757 avia_image ' src=\"https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/letter-circle2.png\" alt='' title='letter-circle2'  height=\"72\" width=\"72\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/letter-circle2.png 72w, https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/letter-circle2-36x36.png 36w\" sizes=\"(max-width: 72px) 100vw, 72px\" \/><\/a><\/div><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_textblock-0495ba487d93331d0a255e1072a23468\">\n#top .av_textblock_section.av-av_textblock-0495ba487d93331d0a255e1072a23468 .avia_textblock{\ncolor:#ffffff;\n}\n<\/style>\n<section  class='av_textblock_section av-av_textblock-0495ba487d93331d0a255e1072a23468 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock av_inherit_color'  itemprop=\"text\" ><p style=\"text-align: center;\"><strong>Letter of Intent<\/strong><\/p>\n<\/div><\/section><\/p><\/div><div class='av-flex-placeholder'><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_one_fifth-e7d49a13650772ec688e52afa4433827\">\n.flex_column.av-av_one_fifth-e7d49a13650772ec688e52afa4433827{\nborder-radius:0px 0px 0px 0px;\npadding:5px 5px 5px 5px;\nbackground-color:#c1c2ba;\n}\n<\/style>\n<div  class='flex_column av-av_one_fifth-e7d49a13650772ec688e52afa4433827 av_one_fifth  avia-builder-el-13  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_table_cell av-equal-height-column av-align-top av-animated-generic pop-up  column-top-margin'     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-0eabcb8162859d5f3787c69ce8ff1969\">\n#top .hr.hr-invisible.av-av_hr-0eabcb8162859d5f3787c69ce8ff1969{\nmargin-top:-40px;\nheight:1px;\n}\n<\/style>\n<div  class='hr av-av_hr-0eabcb8162859d5f3787c69ce8ff1969 hr-invisible  avia-builder-el-14  el_before_av_image  avia-builder-el-first '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_image-e1828ca4ecae6270e9aacbaa3f57bae6\">\n.avia-image-container.av-av_image-e1828ca4ecae6270e9aacbaa3f57bae6 img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-av_image-e1828ca4ecae6270e9aacbaa3f57bae6 .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-av_image-e1828ca4ecae6270e9aacbaa3f57bae6 av-styling- av-img-linked avia-align-center  avia-builder-el-15  el_after_av_hr  el_before_av_textblock '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><a href=\"#due-dilligence\" class='avia_image '  aria-label='due-diligence'><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-3759 avia-img-lazy-loading-not-3759 avia_image ' src=\"https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/due-diligence.png\" alt='' title='due-diligence'  height=\"72\" width=\"72\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/due-diligence.png 72w, https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/due-diligence-36x36.png 36w\" sizes=\"(max-width: 72px) 100vw, 72px\" \/><\/a><\/div><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_textblock-0495ba487d93331d0a255e1072a23468\">\n#top .av_textblock_section.av-av_textblock-0495ba487d93331d0a255e1072a23468 .avia_textblock{\ncolor:#ffffff;\n}\n<\/style>\n<section  class='av_textblock_section av-av_textblock-0495ba487d93331d0a255e1072a23468 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock av_inherit_color'  itemprop=\"text\" ><p style=\"text-align: center;\"><strong>Due Diligence<\/strong><\/p>\n<\/div><\/section><\/p><\/div><div class='av-flex-placeholder'><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_one_fifth-9606c2e799191d5d0ef4ae188552621f\">\n.flex_column.av-av_one_fifth-9606c2e799191d5d0ef4ae188552621f{\nborder-radius:0px 0px 0px 0px;\npadding:5px 5px 5px 5px;\nbackground-color:#84a3b7;\n}\n<\/style>\n<div  class='flex_column av-av_one_fifth-9606c2e799191d5d0ef4ae188552621f av_one_fifth  avia-builder-el-17  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_table_cell av-equal-height-column av-align-top av-animated-generic pop-up  column-top-margin'     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-0eabcb8162859d5f3787c69ce8ff1969\">\n#top .hr.hr-invisible.av-av_hr-0eabcb8162859d5f3787c69ce8ff1969{\nmargin-top:-40px;\nheight:1px;\n}\n<\/style>\n<div  class='hr av-av_hr-0eabcb8162859d5f3787c69ce8ff1969 hr-invisible  avia-builder-el-18  el_before_av_image  avia-builder-el-first '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_image-a184f5a5003c09f1f51102175e74b7b1\">\n.avia-image-container.av-av_image-a184f5a5003c09f1f51102175e74b7b1 img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-av_image-a184f5a5003c09f1f51102175e74b7b1 .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-av_image-a184f5a5003c09f1f51102175e74b7b1 av-styling- av-img-linked avia-align-center  avia-builder-el-19  el_after_av_hr  el_before_av_textblock '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><a href=\"#document-drafting\" class='avia_image '  aria-label='closing'><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-3760 avia-img-lazy-loading-not-3760 avia_image ' src=\"https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/closing.png\" alt='' title='closing'  height=\"72\" width=\"72\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/closing.png 72w, https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/closing-36x36.png 36w\" sizes=\"(max-width: 72px) 100vw, 72px\" \/><\/a><\/div><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_textblock-0495ba487d93331d0a255e1072a23468\">\n#top .av_textblock_section.av-av_textblock-0495ba487d93331d0a255e1072a23468 .avia_textblock{\ncolor:#ffffff;\n}\n<\/style>\n<section  class='av_textblock_section av-av_textblock-0495ba487d93331d0a255e1072a23468 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock av_inherit_color'  itemprop=\"text\" ><p style=\"text-align: center;\"><strong>Document Drafting &amp;\u00a0Closing<\/strong><\/p>\n<\/div><\/section><\/p><\/div><div class='av-flex-placeholder'><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_one_fifth-31120f0f1bc5a8931af22838cfe79d93\">\n.flex_column.av-av_one_fifth-31120f0f1bc5a8931af22838cfe79d93{\nborder-radius:0px 0px 0px 0px;\npadding:5px 5px 5px 5px;\nbackground-color:#86a9b5;\n}\n<\/style>\n<div  class='flex_column av-av_one_fifth-31120f0f1bc5a8931af22838cfe79d93 av_one_fifth  avia-builder-el-21  el_after_av_one_fifth  el_before_av_one_full  flex_column_table_cell av-equal-height-column av-align-top av-animated-generic pop-up  column-top-margin'     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-0eabcb8162859d5f3787c69ce8ff1969\">\n#top .hr.hr-invisible.av-av_hr-0eabcb8162859d5f3787c69ce8ff1969{\nmargin-top:-40px;\nheight:1px;\n}\n<\/style>\n<div  class='hr av-av_hr-0eabcb8162859d5f3787c69ce8ff1969 hr-invisible  avia-builder-el-22  el_before_av_image  avia-builder-el-first '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_image-7e1881d02959d75cc671a12aa7456a56\">\n.avia-image-container.av-av_image-7e1881d02959d75cc671a12aa7456a56 img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-av_image-7e1881d02959d75cc671a12aa7456a56 .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-av_image-7e1881d02959d75cc671a12aa7456a56 av-styling- av-img-linked avia-align-center  avia-builder-el-23  el_after_av_hr  el_before_av_textblock '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><a href=\"#post-closing\" class='avia_image '  aria-label='post-closingdark'><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-3763 avia-img-lazy-loading-not-3763 avia_image ' src=\"https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/post-closingdark.png\" alt='' title='post-closingdark'  height=\"72\" width=\"72\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/post-closingdark.png 72w, https:\/\/ericperkinslaw.com\/wp-content\/uploads\/2016\/03\/post-closingdark-36x36.png 36w\" sizes=\"(max-width: 72px) 100vw, 72px\" \/><\/a><\/div><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_textblock-0495ba487d93331d0a255e1072a23468\">\n#top .av_textblock_section.av-av_textblock-0495ba487d93331d0a255e1072a23468 .avia_textblock{\ncolor:#ffffff;\n}\n<\/style>\n<section  class='av_textblock_section av-av_textblock-0495ba487d93331d0a255e1072a23468 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock av_inherit_color'  itemprop=\"text\" ><p style=\"text-align: center;\"><strong>Post-Closing<\/strong><\/p>\n<\/div><\/section><\/p><\/div><\/div><!--close column table wrapper. Autoclose: 1 -->\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_one_full-9497bbf8bff73ea4c6992cc17fa9ec36\">\n.flex_column.av-av_one_full-9497bbf8bff73ea4c6992cc17fa9ec36{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-av_one_full-9497bbf8bff73ea4c6992cc17fa9ec36 av_one_full  avia-builder-el-25  el_after_av_one_fifth  el_before_av_promobox  first flex_column_div av-zero-column-padding  column-top-margin'     ><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-cc476a9069e1e7460b434c879e43298e\">\n#top .av-special-heading.av-av_heading-cc476a9069e1e7460b434c879e43298e{\npadding-bottom:10px;\ncolor:#628498;\n}\nbody .av-special-heading.av-av_heading-cc476a9069e1e7460b434c879e43298e .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-av_heading-cc476a9069e1e7460b434c879e43298e .special-heading-inner-border{\nborder-color:#628498;\n}\n.av-special-heading.av-av_heading-cc476a9069e1e7460b434c879e43298e .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-cc476a9069e1e7460b434c879e43298e av-special-heading-h5 custom-color-heading  avia-builder-el-27  el_after_av_codeblock  el_before_av_textblock '><h5 class='av-special-heading-tag'  itemprop=\"headline\"  >Strategic Planning<\/h5><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-av_textblock-0366cc7376be6c9e82a3e9cc8987b64f '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p align=\"left\">The issues addressed at the front end of any small business acquisition or sale is an in-depth discussion with the client and his or her other advisors (accountant, banker, financial advisor, etc.) concerning:<\/p>\n<ul>\n<li>Overall objectives for the acquisition or sale of the business<\/li>\n<li>Level of preparedness for the transaction<\/li>\n<li>Overview of the process for buying or selling a business<\/li>\n<li>The role the client wants me to play in the process<\/li>\n<\/ul>\n<\/div><\/section><br \/>\n<br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-1a6a70bc3706b43af03f49d26d2be517\">\n#top .av-special-heading.av-av_heading-1a6a70bc3706b43af03f49d26d2be517{\npadding-bottom:10px;\ncolor:#628498;\n}\nbody .av-special-heading.av-av_heading-1a6a70bc3706b43af03f49d26d2be517 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-av_heading-1a6a70bc3706b43af03f49d26d2be517 .special-heading-inner-border{\nborder-color:#628498;\n}\n.av-special-heading.av-av_heading-1a6a70bc3706b43af03f49d26d2be517 .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-1a6a70bc3706b43af03f49d26d2be517 av-special-heading-h5 custom-color-heading  avia-builder-el-30  el_after_av_codeblock  el_before_av_textblock '><h5 class='av-special-heading-tag'  itemprop=\"headline\"  >Letter of Intent<\/h5><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-av_textblock-0366cc7376be6c9e82a3e9cc8987b64f '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p>At this stage, a business owner and potential buyer have had sufficient discussions that they decide it is worthwhile to negotiate the key business terms of the deal.\u00a0The relationship is often memorialized through a written letter of intent (often referred to as an \u201cLOI\u201d).<\/p>\n<p>An LOI is typically a short document that sets forth the buyer\u2019s and seller\u2019s agreement on issues such as:<\/p>\n<ul>\n<li>Price<\/li>\n<li>Payment terms<\/li>\n<li>Deal structure (e.g., stock sale vs. asset sale)<\/li>\n<li>Due diligence details<\/li>\n<li>Confidentiality terms<\/li>\n<li>No shop or stand still provisions<\/li>\n<li>Whatever other deal points the parties can agree on at this early stage<\/li>\n<\/ul>\n<\/div><\/section><br \/>\n<br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-98540220904069377b8de9723729e2fe\">\n#top .av-special-heading.av-av_heading-98540220904069377b8de9723729e2fe{\npadding-bottom:10px;\ncolor:#628498;\n}\nbody .av-special-heading.av-av_heading-98540220904069377b8de9723729e2fe .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-av_heading-98540220904069377b8de9723729e2fe .special-heading-inner-border{\nborder-color:#628498;\n}\n.av-special-heading.av-av_heading-98540220904069377b8de9723729e2fe .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-98540220904069377b8de9723729e2fe av-special-heading-h5 custom-color-heading  avia-builder-el-33  el_after_av_codeblock  el_before_av_textblock '><h5 class='av-special-heading-tag'  itemprop=\"headline\"  >Due Diligence<\/h5><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-av_textblock-0366cc7376be6c9e82a3e9cc8987b64f '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p>This is perhaps the most important\u2014and most dreaded\u2014part of the deal process.<\/p>\n<p>This is a potential buyer\u2019s opportunity to review the target company\u2019s legal, financial, and business records to better assess the bundle of assets, liabilities, and risks it is negotiating to buy.<\/p>\n<p>This is also a seller\u2019s opportunity to demonstrate the value of the business and assets being sold and minimize the buyer\u2019s efforts to negotiate reductions to the purchase price and other concessions.<\/p>\n<\/div><\/section><br \/>\n<br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-4a3a1752bd886357ae2380bb839c0bbd\">\n#top .av-special-heading.av-av_heading-4a3a1752bd886357ae2380bb839c0bbd{\npadding-bottom:10px;\ncolor:#628498;\n}\nbody .av-special-heading.av-av_heading-4a3a1752bd886357ae2380bb839c0bbd .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-av_heading-4a3a1752bd886357ae2380bb839c0bbd .special-heading-inner-border{\nborder-color:#628498;\n}\n.av-special-heading.av-av_heading-4a3a1752bd886357ae2380bb839c0bbd .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-4a3a1752bd886357ae2380bb839c0bbd av-special-heading-h5 custom-color-heading  avia-builder-el-36  el_after_av_codeblock  el_before_av_textblock '><h5 class='av-special-heading-tag'  itemprop=\"headline\"  >Document Drafting <span class='special_amp'>&amp;<\/span> Closing<\/h5><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-av_textblock-0366cc7376be6c9e82a3e9cc8987b64f '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p>Once the due diligence stage ends and the parties are locked into the deal, then it is time to prepare the definitive acquisition documents and address all the logistics necessary for closing.<\/p>\n<p>If all goes well, closing day is anti-climatic:<\/p>\n<ul>\n<li>Documents are signed<\/li>\n<li>Signature pages exchanged<\/li>\n<li>Funds are transferred<\/li>\n<\/ul>\n<p>If any lingering issues could not be addressed prior to closing, the parties will enter into a side letter agreement or post-closing agreement to address those items.<\/p>\n<\/div><\/section><br \/>\n<br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-8c2ccc7a4bd248e7b085aed3d318a1e3\">\n#top .av-special-heading.av-av_heading-8c2ccc7a4bd248e7b085aed3d318a1e3{\npadding-bottom:10px;\ncolor:#628498;\n}\nbody .av-special-heading.av-av_heading-8c2ccc7a4bd248e7b085aed3d318a1e3 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-av_heading-8c2ccc7a4bd248e7b085aed3d318a1e3 .special-heading-inner-border{\nborder-color:#628498;\n}\n.av-special-heading.av-av_heading-8c2ccc7a4bd248e7b085aed3d318a1e3 .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-8c2ccc7a4bd248e7b085aed3d318a1e3 av-special-heading-h5 custom-color-heading  avia-builder-el-39  el_after_av_codeblock  el_before_av_textblock '><h5 class='av-special-heading-tag'  itemprop=\"headline\"  >Post Closing<\/h5><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-av_textblock-0366cc7376be6c9e82a3e9cc8987b64f '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p>The amount and type of issues requiring attention after a deal closes varies on a case-by-case basis.<\/p>\n<p>Sometimes, additional documents require signatures, documents will need to be recorded or filed with the state or local clerk\u2019s office, and closing document binders will need to be prepared.<\/p>\n<\/div><\/section><\/p><\/div><div  class='av_promobox av-av_promobox-f3eb4e4253bf26fc58bd528e66b2d3b6 avia-button-yes  avia-builder-el-41  el_after_av_one_full  avia-builder-el-last '><div class='avia-promocontent'><p>Buying or selling a business can be one of the most important decisions of your life. We can help.<\/p>\n<\/div><div  class='avia-button-wrap av-av_button-007ea0f217f9e9174cbfd59c3adebc47-wrap avia-button-right '>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_button-007ea0f217f9e9174cbfd59c3adebc47\">\n#top #wrap_all .avia-button.av-av_button-007ea0f217f9e9174cbfd59c3adebc47{\nbackground-color:#fdb817;\nborder-color:#fdb817;\ncolor:#ffffff;\ntransition:all 0.4s ease-in-out;\n}\n<\/style>\n<a href='https:\/\/ericperkinslaw.com\/contact-us\/'  class='avia-button av-av_button-007ea0f217f9e9174cbfd59c3adebc47 av-link-btn avia-icon_select-no avia-size-medium avia-position-right'  ><span class='avia_iconbox_title' >Contact Us<\/span><\/a><\/div><\/div>\n<\/div><\/div><\/main><!-- close content main element --><\/div><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_section-43073b16e4f0519bce9c17c932e65ea1\">\n.avia-section.av-av_section-43073b16e4f0519bce9c17c932e65ea1{\nbackground-color:#aecdd0;\nbackground-image:unset;\n}\n<\/style>\n<div id='av_section_2'  class='avia-section av-av_section-43073b16e4f0519bce9c17c932e65ea1 main_color avia-section-large avia-no-shadow  avia-builder-el-42  el_after_av_section  avia-builder-el-last  avia-bg-style-parallax container_wrap sidebar_right'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-3576'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_one_full-b0fcf412b0bb4625b4879530d1053d08\">\n.flex_column.av-av_one_full-b0fcf412b0bb4625b4879530d1053d08{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-av_one_full-b0fcf412b0bb4625b4879530d1053d08 av_one_full  avia-builder-el-43  avia-builder-el-no-sibling  first flex_column_div av-zero-column-padding  '     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-695cf60e56b992c11d59c53c8241e01d\">\n#top .av-special-heading.av-av_heading-695cf60e56b992c11d59c53c8241e01d{\npadding-bottom:10px;\ncolor:#ffffff;\nfont-size:25px;\n}\nbody .av-special-heading.av-av_heading-695cf60e56b992c11d59c53c8241e01d .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n#top #wrap_all .av-special-heading.av-av_heading-695cf60e56b992c11d59c53c8241e01d .av-special-heading-tag{\nfont-size:25px;\n}\n.av-special-heading.av-av_heading-695cf60e56b992c11d59c53c8241e01d .special-heading-inner-border{\nborder-color:#ffffff;\n}\n.av-special-heading.av-av_heading-695cf60e56b992c11d59c53c8241e01d .av-subheading{\nfont-size:18px;\n}\n\n@media only screen and (min-width: 480px) and (max-width: 767px){ \n#top #wrap_all .av-special-heading.av-av_heading-695cf60e56b992c11d59c53c8241e01d .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n\n@media only screen and (max-width: 479px){ \n#top #wrap_all .av-special-heading.av-av_heading-695cf60e56b992c11d59c53c8241e01d .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-695cf60e56b992c11d59c53c8241e01d av-special-heading-h3 custom-color-heading blockquote modern-quote  avia-builder-el-44  el_before_av_toggle_container  avia-builder-el-first  av-inherit-size'><h3 class='av-special-heading-tag'  itemprop=\"headline\"  >Frequently Asked Questions<\/h3><div class='av_custom_color av-subheading av-subheading_below'><p>For more detail on the Perkins Law approach to small business acquisitions:<\/p>\n<\/div><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<div  class='togglecontainer av-av_toggle_container-8e0c6e39d39b619a829887bd54fff3ed  avia-builder-el-45  el_after_av_heading  avia-builder-el-last  toggle_close_all' >\n<section class='av_toggle_section av-av_toggle-361687fc81010fecfc472793b81a5cf5'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-1' class='toggler   '  itemprop=\"headline\"  role='tab' tabindex='0' aria-controls='toggle-id-1'>What role should an attorney play in a business transaction?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-1' class='toggle_wrap  '  ><div class='toggle_content invers-color '  itemprop=\"text\" ><p>It depends on a lot of factors.\u00a0 An attorney\u2019s role in a business transaction could be significant throughout the entire transaction or limited to drafting a specific agreement.\u00a0 Perkins Law will\u00a0not\u00a0hijack your deal or bring a narcissistic, deal-killing presence into your transaction.\u00a0 Eric Perkins strives to identify and analyze issues, focusing on the legal side of the transaction while letting you call the shots on business issues.\u00a0 A team-oriented approach that involves the client and his or her advisory team (lawyer, accountant, banker, financial advisors) generally results in better outcomes.<\/p>\n<\/div><\/div><\/div><\/section>\n<section class='av_toggle_section av-av_toggle-24e57532a8f64b1bcb453f455c7d619c'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-2' class='toggler   '  itemprop=\"headline\"  role='tab' tabindex='0' aria-controls='toggle-id-2'>What\u2019s the toughest part of buying or selling a business?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-2' class='toggle_wrap  '  ><div class='toggle_content invers-color '  itemprop=\"text\" ><p>The toughest part of business negotiations is that, sometimes, the best deal is no deal at all.\u00a0 Regardless of how much time and money has been invested in pursuing a deal, one should never get so emotionally connected to a transaction that it interferes with sound business judgment.\u00a0 All too often, people get caught up in the chase of a deal and lose sight of their long-term business objectives.\u00a0 Entrepreneurs without discipline end up making bad deals.<\/p>\n<\/div><\/div><\/div><\/section>\n<section class='av_toggle_section av-av_toggle-bc17cf1ce23e8e01040027c7fc165451'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-3' class='toggler   '  itemprop=\"headline\"  role='tab' tabindex='0' aria-controls='toggle-id-3'>I have decided it is time to sell my business. Where do I start?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-3' class='toggle_wrap  '  ><div class='toggle_content invers-color '  itemprop=\"text\" ><p>First, it is helpful to identify the reasons you want to sell your business as it may have an important impact on the marketability of the business and your sale strategy.\u00a0\u00a0Common reasons for selling a small business include:\u00a0\u00a0(i) owner burnout, (ii) owner\u2019s death or permanent disability, (iii) owner\u2019s desire to retire, (iv) pre-planned transfer to a business partner or relative, (v) owner received an unsolicited offer, (vi) significant financial or operational problems, and (vii) discontent between business partners.<\/p>\n<p>Second, regardless of the motivation to sell, it is useful to assess the marketability of the business.\u00a0\u00a0A formal, third-party business valuation is often helpful, but not necessarily essential.<\/p>\n<p>Third, assemble your team of advisors to help you navigate the process<\/p>\n<\/div><\/div><\/div><\/section>\n<section class='av_toggle_section av-av_toggle-4da1402a11516f07b8bd474ae1f87b54'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-4' class='toggler   '  itemprop=\"headline\"  role='tab' tabindex='0' aria-controls='toggle-id-4'>I am ready to sell my business and want to keep the paper work to a minimum. Do I need to get a potential buyer to sign a letter of intent before negotiating a purchase agreement?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-4' class='toggle_wrap  '  ><div class='toggle_content invers-color '  itemprop=\"text\" ><p>While not required from a legal perspective or always necessary from a business perspective, a carefully drafted letter of intent can be a useful document in setting the stage for a successful closing and providing some helpful legal protection to the parties in several ways.<\/p>\n<\/div><\/div><\/div><\/section>\n<section class='av_toggle_section av-av_toggle-e9162e723545f06ff7c087f2ebca6450'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-5' class='toggler   '  itemprop=\"headline\"  role='tab' tabindex='0' aria-controls='toggle-id-5'>How long does it take to close on the sale of a business once a letter of intent has been signed?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-5' class='toggle_wrap  '  ><div class='toggle_content invers-color '  itemprop=\"text\" ><p>Timing will vary from deal to deal based on a wide variety of factors, such as the complexity of the transaction structure and the underlying business, the business experience and available resources of the parties involved, the number and nature of problems discovered during the due diligence period, and the degree to which the parties haggle with one another over terms and conditions of the underlying agreements. A typical small business sale should be able to close within 45-90 days following execution of a letter of intent. Rushing through the process too quickly often results in regrettable mistakes being made (particularly on the part of the buyer). If the parties drag their feet too long, then not only will transaction costs quickly add up, but at some point the deal loses momentum, parties get distracted by other projects, and the chances of a deal closing deteriorate.<\/p>\n<\/div><\/div><\/div><\/section>\n<section class='av_toggle_section av-av_toggle-2b0c33900fc3949653e587352bf9de4e'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-6' class='toggler   '  itemprop=\"headline\"  role='tab' tabindex='0' aria-controls='toggle-id-6'>What is the difference between an asset sale and stock sale?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-6' class='toggle_wrap  '  ><div class='toggle_content invers-color '  itemprop=\"text\" ><p>Generally speaking, the sale of a small business is structured one of two ways:an asset sale or a stock sale (for an LLC, it would be described as an LLC membership interest sale). There are important legal, tax, and business differences between the two structures, so buyers and sellers should be careful and, when possible, negotiate for a deal structure most advantageous to them.<\/p>\n<p>In an asset sale, the buyer purchases the underlying assets of a business from the seller.The buyer can either buy all the assets or it can pick and choose which assets it wants. More importantly, the buyer will not assume responsibilities for any debts and liabilities of the seller unless it specifically agrees to in the Asset Purchase Agreement. Also, from a tax perspective, a buyer in an asset acquisition benefits from a new tax basis in the acquired assets based on the purchase price.The new basis often will allow a buyer to depreciate the acquired assets that may have previously been fully depreciated by the seller.In a typical small business acquisition, a buyer prefers to structure the acquisition as an asset purchase.<\/p>\n<p>In a stock sale, the buyer purchases the entire company through acquisition of all the stock of the corporation (or membership interests of a limited liability company).In a stock sale, the buyer gets everything\u2014assets and liabilities of the business\u2014and simply steps into the shoes of the selling owner(s) of the business. Under some circumstances a buyer might be willing to acquire a small business through a stock sale, but more often than not it is the seller who prefers a stock sale structure.<\/p>\n<\/div><\/div><\/div><\/section>\n<section class='av_toggle_section av-av_toggle-0c1fe8ebdd58eaaede802da7f35b9dcd'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-7' class='toggler   '  itemprop=\"headline\"  role='tab' tabindex='0' aria-controls='toggle-id-7'>What are some pros and cons of having a selling business owner continue to stay involved with the business as an employee or agent of the buyer in some capacity post-closing?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-7' class='toggle_wrap  '  ><div class='toggle_content invers-color '  itemprop=\"text\" ><p>From a buyer\u2019s perspective, it can be beneficial to negotiate an employment or consulting agreement with the seller to ensure his or her availability for some period of time post closing to help with transition logistics as well as employee and customer retention.Economically, such an agreement might also be a necessary and appropriate part of the overall deal to provide additional income to the seller to complement the purchase price for the business itself.<\/p>\n<p>On the other hand, if the buyer is convinced that the seller\u2019s presence will be more of a distraction or nuisance, then the buyer should either decline to include such an agreement as part of the deal or structure it such that the buyer has broad discretion to utilize seller\u2019s services as much or as little as buyer deems appropriate (i.e., we\u2019ll call you when we need you).<\/p>\n<\/div><\/div><\/div><\/section>\n<\/div><\/p><\/div>\n<\/div><\/div><\/div><!-- close content main div --><\/div><\/div><div id='after_section_2'  class='main_color av_default_container_wrap container_wrap sidebar_right'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-3576'><div class='entry-content-wrapper clearfix'><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ericperkinslaw.com\/wp-json\/wp\/v2\/pages\/3576"}],"collection":[{"href":"https:\/\/ericperkinslaw.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ericperkinslaw.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ericperkinslaw.com\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ericperkinslaw.com\/wp-json\/wp\/v2\/comments?post=3576"}],"version-history":[{"count":5,"href":"https:\/\/ericperkinslaw.com\/wp-json\/wp\/v2\/pages\/3576\/revisions"}],"predecessor-version":[{"id":6160,"href":"https:\/\/ericperkinslaw.com\/wp-json\/wp\/v2\/pages\/3576\/revisions\/6160"}],"wp:attachment":[{"href":"https:\/\/ericperkinslaw.com\/wp-json\/wp\/v2\/media?parent=3576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}