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Upland, CA 91786
Phone: (909) 920-0908
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Law Offices of Torrence L. Howell - Providing Over 20 Years of Industry Leading Experience in Family Law, Business Law and Criminal Law
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Get Answers to Common Questions About Changing Business Ownership

Get Answers to Common Questions About Changing Business Ownership

If you are buying or selling a company then it is likely you have many questions. The good news is that you have a legal expert here to help you. All you have to do is call Law Offices of Torrence L. Howell at (909) 920-0908 to request a free legal consultation. In the meantime, get general answers to some of the most commonly asked question about this process.

Is it Necessary to Hire an Attorney?

You certainly are not required by law to do so but at Law Offices of Torrence L. Howell we strongly recommend that you do. There are dozens of tasks that must be completed before the closing date. There will be legal documents, negotiations, and many legal needs. If you are unsure if you really need an attorney, just look at documents involving change of business ownership or structure. You will quickly see that it is worth it to have a professional work on your behalf.

What Will Happen to My Business After it is Dissolved?

That depends on what you want. If you are retiring or otherwise ending the business, then you will have to notify your state business division. This requires a legal dissolution. If you are turning the company over to another person or entity, then you must change the business structure to reflect that. You will need the approval and resolutions of your corporate board of directors. We can help you with all this and more.

What Documents Are Required for Business Transfer?

In large part, it depends on what is involved. In most cases, a change of business ownership involves one business ending and another beginning. In that case, you will need many of the same business documents you would need to start a business. This includes an Employer ID Number (EIN) and potentially a new state EIN. Old business documents, such as LLCs, corporation, partnership, etc., documents must be dissolved and new business entity documents must be filed.

We Can Help with Name Changes, Banking Changes, and More

No matter what your specific needs are, if your business name needs to be changed, banking changes need to be implemented, and other steps need to be taken to transfer your company to the hands of another, then you need qualified legal representation.

Note that you should have a different attorney than the person you are buying or selling your company to or from. You need an attorney who is 100% on your side and entirely unbiased. You can count on that and much more from Law Offices of Torrence L. Howell. Call us now at (909) 920-0908 for a free legal consultation.


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My ex-wife hired an attorney which prompted me to do so for our divorce. Torrence Howell was highly recommended from a friend of mine who used Torrence’s services for a divorce just like mine. The results came out much better than he ever thought it would. With all things being equal I felt Torrence would

-Anonymous May 23, 2018

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