Business owners may choose to sell for a variety of reasons. They may be approaching retirement, want a change in entrepreneurial direction or seek to renounce control of a company they would like to continue to be associated with, as an employee or director.
The Tri-Cities buy-sell agreement lawyers at Laughlin & Company Lawyers Mediators offer Port Coquitlam and area entrepreneurs the benefit of their experience with all aspects of business law. Upon consideration of a business sale, our legal counsel can alert you to the potential risks involved and the ongoing liabilities you may be subject to.
Facilitating Business Sale In British Columbia
There are many components to the sale of a business. The structure of the sale may include buying the shares of the company — and all of its associated liabilities — or buying only the assets of the business. Contractual obligations with regard to employees, suppliers, and landlords may transfer to the new owners. For many owners, they may remain involved in running the business for a period of time after giving up control.
Upon learning of your desire to sell your business, our lawyers at Laughlin & Company can begin to itemize the issues that you must address before a sale is complete. In particular, certain kinds of businesses are subject to regulatory requirements that will restrict who you can sell your company to. For example, if you run a professional practice and are subject to a licensing college, you may have to sell the business to another member in good standing with that college.
To receive advice with regard to selling a business in British Columbia, contact our real estate law firm for a consultation. Call us at 604-239-0800 or get in touch online.