Q: I am purchasing a tax/accounting business near Sarasota, Florida. I need an attorney for advice.
The sale is going through a broker. What type of lawyer do I need? And what should I look out for. I received a sample letter. Would like to review with attorney as well as any other documents that may come up as well as due diligence of the business.
A: You will need a business lawyer. Look for one that concentrates in business law so that they will have experience with purchases.
A: You should look for a business transaction lawyer. Your comment mentions a 'sample letter', which could be a letter of intent (LOI). The goal could be to get a signed asset purchase agreement with appropriate due diligence provisions, including an obligation for the seller to furnish complete financial documentation. Of course, you should be prepared to sign a non-disclosure agreement.
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