Texas Business Law Attorneys for Sales of Business Interests
Business opportunities can pop up anytime and in the most unexpected ways. The chance to merge with another company, perhaps acquire a competitor, may come out of nowhere. As could a serious offer from serious people to buy your business. None of these are decisions to be made on the spur of the moment. Impulse buying belongs in the checkout line at the grocery store, not with anything connected to your company.
It’s not just about the details of a merger, a sale, or an acquisition – it’s about sound business sense, emotions, diligence, negotiation, preparation, communication, and planning. The Hopkins Centrich team specializes in assisting clients with the acquisition or divestiture of small to medium-sized businesses in Texas. From corporations, limited liability companies, and partnerships to sole proprietorships, we have helped generations of Texas business owners through acquisition or sale.
Over the years we have been the law firm for a variety of privately-owned companies from tech to software developers, healthcare providers, architectural firms, real estate developers, retailers, restaurants, breweries, CPA firms, and others.
Business Law and Sales of Business Interests
Regardless of the type of transaction, due diligence is critical. At least 11 distinct steps should be followed before finalizing a business purchase. A thorough examination of the seller's financial records is a vital step, and several examples of records to review include:
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Existing Contracts
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Licenses,
Permits, and Registrations
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Legal Authority Documentation
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Financial Records
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Software Documentation
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Insurance Policies
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Leases for
Property and Equipment
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Tax
Returns
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Consultant and Contractor Agreements
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Employee Files
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Supplier
Lists
Initiating, negotiating, compiling due diligence, structuring, and closing a business deal requires a deep understanding of laws and regulations along with sharp, smart, creative business acumen.
Key Factors to Keep in Mind
Selling your interests in a business requires flawless execution. It requires research, diligence, negotiation, patience, doggedness, a deep understanding of business law, and experience. The Hopkins Centrich team routinely advises business owners on identifying and addressing the initial key factors that influence the business purchase or sale process. Some of these factors include:
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Inclusion of
real estate in the transaction
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Franchise-related considerations
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Deciding whether to sell the entire business or only its assets
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Establishing the type of business entity
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Contingency
clauses
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Necessary changes to governing documents
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Protecting confidentiality
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Regulatory or legal concerns
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Sale price
and incidental costs
Then we turn our attention to the issues that must be addressed and/or disclosed before a deal can be completed:
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Valuations
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Debts
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Pending litigation
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Worker’s Compensation claims
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Employee contracts
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Due Diligence
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Licensing
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Project
liability
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Compensation
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Management
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Type of
entity
These are just a few of the many things to be discovered, discussed, divulged, negotiated, and agreed to.
About Due Diligence - A Vital Step
A crucial aspect of any business transaction is due diligence. Similar to a house or car purchase, due diligence involves inspection – a thorough examination analogous to kicking the tires.
The parties must examine the financials, operations, records, and more of a business to properly assess potential risks. Hopkins Centrich will assist you in obtaining and organizing all the documentation necessary for you to make the most informed decision possible.
Our Houston business law attorneys are experienced in handling various aspects of due diligence, including:
Reviewing and advising on due diligence documents.
Drafting letters of intent and information requests.
Assessing legal and business risks associated with the transaction.
Facilitating diligence processes such as facility inspections, licensing, and regulatory checks, tax return audits, and vendor list vetting.
To accomplish all of this, it's essential to ask the right questions, thoroughly examine and analyze the pertinent documents, and conduct meetings with accountants, investment advisors, and other lawyers. Smooth execution, minimal stress, and adherence to the client's desired timeframe require a combination of legal knowledge, experience, and a business perspective.
Hopkins Centrich has the knowledge, experience, and business acumen to get it done. Moreover, and just as importantly, we are business owners, we get it. We understand the connection you have with your business and all it entails. We understand that even though the new deal is exciting, it’s still hard. We will make it easier.
About Hopkins Centrich
Hopkins Centrich PLLC provides cutting-edge, high-quality, creative legal solutions for business and business owners in Texas.
Our attorneys and staff have decades of experience in virtually every aspect of business law in The Woodlands and Texas. We have designed and incorporated businesses, managed their every legal concern, engaged in litigation on their behalf, aided with mergers and acquisitions, managed mergers, acquisitions, and sales.
Hopkins Centrich knows Texas business law. We are uniquely positioned to help business owners from startup to merger or sale or transfer to family members.
When we work with a client, our sole focus is on them. We take advantage of everything technology has to offer to optimize how we work. That gives us more time to spend with you, more time to understand the issues, and more time to negotiate and prepare for trial.
We get that no one wants to contact a law firm unless they feel they absolutely have to. When they do, it almost always means that ‘things have reached a head.’
The attorneys and staff of Hopkins Centrich understand business. We understand business owners. We will make any legal process understandable; you will know what is happening with your case every step of the way, and you will never have to track us down for answers.
How We Work
Hopkins Centrich is a team with a deep bench. All our attorneys have extensive litigation experience which they fully use when called for.
Hopkins Centrich’s attorneys all have ‘big firm’ backgrounds. They formed our firm with the goal of keeping the best of those firms while employing far more personal experience for our clients.
We do this by using technology to its fullest. We will make use of every cutting edge legal and business technology and methodologies to ensure that we will continue to deliver the highest quality legal services to our clients while allowing us to respond promptly and efficiently to client needs, exceed project requirements, operate effortlessly with narrow timeframes, and develop innovative and flexible legal solutions at competitive fees.
We are creative. We are agile. We quickly adapt to rapidly changing circumstances, including changes in the law.
Our vision statement may sum it up best. We will deliver highly skilled, ethical, and aggressive legal representation to every client by:
Responding promptly to our clients’ needs;
Anticipating business and legal trends that may affect our clients;
Managing our clients’ matters in an efficient, caring, and proactive manner;
Communicating regularly and clearly with our clients