Buying A Business?

Once you and your business buyer negotiate the fine points of a deal, it’s time to schedule the sale closing. A few easy steps will help you lay out what you need to do in advance, during, and immediately following the big day. Step 1. Prepare for Closing Day Here’s a chart outlining pre-closing day tasks. Work with your broker, if you’re using one, and your attorney and accountant to confirm and take the steps necessary in your particular closing. Once each step is taken, review the closing-day materials with the buyer to ensure advance agreement for a smooth closing. […]

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Arbitration vs. Litigation

Should I include an arbitration clause in my contracts?  Here are several factors you should consider when deciding whether to incorporate a mandatory arbitration clause into that contract you are drafting. 1.  Price Arbitration is not necessarily less expensive than litigation; instead, the opposite may be true. Not only is the cost of instituting arbitration more expensive than filing a complaint in court, the parties also must pay the fees of the private arbitration panel, which can include as many as three high-priced lawyers or retired judges. Thus, in a low-dollar dispute, arbitration may be financially impractical. That being said, […]

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