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Change of Ownership or Structure

Change of Ownership or StructureBefore you buy, sell, or restructure a business, consult with a knowledgeable business attorney in Upland CA.

In the business world, you grow and evolve or you fail. Often, this evolution leads to the need for legal changes to ownership or business structure. Whether you are buying or selling a business, adding or dropping a partner, or changing from one type of business structure to another, you won’t want to take any action without consulting with an experienced business attorney in Upland CA like Torrence L. Howell first. As a skilled attorney who owns a business himself, Torrence L. Howell understands what it takes to keep a business running and how details of structure and ownership can help or hinder these efforts. You can rely on him to provide you with honest and accurate advice and expert representation.

Buying or Selling a Business?

Businesses are bought and sold all the time. On the surface, this may seem like a straightforward transaction. However, there are many important factors that must be considered and many legal details that must be addressed to help protect against future litigation. With help from Torrence L. Howell, you can rest assured your transaction will be properly structured with the following important details clearly outlined:

  • Purchase price
  • Physical assets included in the sale (furniture, files, patents, customer lists)
  • Non-compete clause for previous owners who plan to remain in the same field

Whether you are the buyer or the seller, whether the entire business is being sold or only a portion, you can retain Torrence L. Howell as your business attorney to look out for your interests every step of the way.

Buying Out Partners

Torrence L. Howell can also provide expert legal assistance in the event that the current owners of a business need to buy out a partner. This is often happens when one partner gets a divorce. The owners would be faced with the choice of allowing the partner’s ex-spouse to take control of half of that partner’s stake in the company or finding the cash to buy out the partner and/or their spouse. In most cases, the procedures for handling these sorts of situations are spelled out in the partnership agreement, but you may need an Upland CA business attorney’s help to fully understand and implement them.

Changes in Corporate Structure

The structure of a business affects the owner’s tax burden and level of protection from creditors. As your business grows, don’t just assume the structure you began with is still the right one for your business. Instead, consult with a knowledgeable business attorney in Upland CA like Torrence L. Howell. He can help you determine if a structure change would be advantageous to your business and handle all the legal tasks associated with effecting the necessary change.

Questions? Ask a Business Attorney in Upland CA

If you’d like to learn more about how hiring a business attorney in Upland CA can benefit your business, please contact the Law Offices of Torrence L. Howell now.