Are you planning to buy a business? Do you have a business for sale? Or do you run a business you want to significantly restructure? Before you move forward, there are some things you should know. Read on to learn the most important facts about restructuring a business or changing the ownership and then contact Law Offices of Torrence L. Howell for a free case evaluation.

Buying or selling a business may not be as straightforward as it seems

It’s true that businesses are sold and bought every day but this doesn’t mean it’s a straightforward process. There are numerous factors that must be carefully considered and many legal issues to address in order to prevent future litigation. When you work with Law Offices of Torrence L. Howell, you’ll have the confidence that we’re structuring your transaction while keeping these details in mind:

• The purchase price.
• Non-complete clauses for past owners who plan to stay in the same field.
• Physical assets that are included in the sale, like files, furniture, customer lists, and patents.

No matter if you’re the buyer or seller, whether the whole business is being sold or just a portion of it, it’s essential to have the right California business attorney on your side.

Buying out partners has its own unique issues

When the owners of a business want to buy out a partner, everyone involved needs their own legal counselor. One of the most common reasons this happens is when one of the partners is getting divorced and the owner doesn’t want to be put into a position of allowing that person’s ex-spouse to take control of their stake in the company. Most of the time, the procedure to follow when one partner wants to buy out another is covered in the partnership agreement. However, you’ll still need a business attorney to ensure the procedures are followed correctly.

The tax issues involved in changing corporate structure

When you began your business, one particular way of structuring your business may have made sense. As time has gone on and your needs have changed, it may be time to make a change. Remember that the way a business is structured affects the tax burden of the owner and how protected they are from creditors.

Don’t assume that the structure of your business that’s worked for years is still the best structure. If you’re not sure how to best move forward, contact an experienced, knowledgeable business attorney. Law Offices of Torrence L. Howell is here to help you decide if it’s time for a structure change. We can also handle all legal tasks associated with making that change. The good news is that you don’t have to make these decisions on your own. You can work with an attorney who’s been through it all before.

Are you ready for your free case evaluation? Call Law Offices of Torrence L. Howell at (909) 920-0908 to set up your appointment.