Business ventures can be extremely lucrative and satisfying for owners. However, there are many different laws in the state of New York that regulate many aspects of almost every type of business. Whether you are building a business from the ground up, purchasing or merging with an existing business, or selling a business, you are facing many potential legal issues. If not handled correctly, these matters can result in serious financial loss and liability.
At the law firm of Hirsch & Hirsch, we understand how important your business is to you and your livelihood. We work to understand your specific goals when it comes to starting a business or the sale and purchase of a business, and we will ensure that your rights are protected throughout every business transaction. If you are a business owner, call to find out more information about how our experienced NY business attorneys can assist you.
Business Formation, Acquisition, or Partnership
If you have a business idea, the first hurdle is to decide how you are going to legally form your business. Corporation formation can be an important decision as the type of business entity you choose can have a substantial effect on many issues, including taxes and your personal liability as a business owner.
You have many options when deciding how to go into business. For example, if you have one or more partners in your venture, you may consider simply forming a business partnership. Partnerships are relatively simple to form and consist of different people or businesses coming together to form one enterprise. However, there are different types of partnerships with different tax implications and liability issues to consider. You want to discuss your specific type of operation with an experienced attorney to determine whether a partnership or another type of business formation is best in your situation. We can also help with many additional issues that arise when starting a business, such as real estate transactions, liquor license applications, and more.
Once you have a business, one common way to expand your operation is through business mergers or business acquisitions. Mergers and acquisitions are both extremely complicated transactions that, if they do not go smoothly, can seriously affect your bottom line or even put your business’s success in jeopardy. If they succeed, however, it can result in long-term success for your business.
Every step of these complex transactions should be carefully overseen by an attorney who can identify any possible red flags, address any potential legal disputes, and can ensure all laws are followed. One of the most important aspects of purchasing a business is a process called “due diligence.” When a business is up for sale, of course owners are going to try to make it as desirable as possible for purchasers. You want to ensure you know the exact state of the business, including finances, inventory, operations, workforce, and more, so that you can make an educated decision whether to go through with the purchase and can be sure the price is fair. Our experienced business attorneys know how to thoroughly conduct due diligence to provide the best possible advice in a merger or acquisition.
Overseeing every detail of a business merger or acquisition can take a lot of time and energy. Let us handle all of the legal issues in your business formation, merger, or acquisition so that you can do what you do best–running your existing business.
Selling a Business in NY
Selling a business is often the best option for owners if you do not have the capital or ability to expand operations as necessary. A successful sale can often leave you in a financially stable position so you can move on to another business venture if you choose. However, you want to ensure that you get a fair price for your business and that a large corporation does not take advantage of your position in the transaction.
Our business sales attorneys can help review and negotiate letters of intent, help navigate the due diligence process, and protect your rights as a business owner so that you can emerge from the sale in the best position possible.
Call for a Consultation with a NY Commercial Law Attorney at Hirsch & Hirsch, LLP Today
Business formation, purchases, and sales can all be complex matters that involve many different laws and can open you up to loss and legal liability. You can trust that the highly experienced attorneys at Hirsch & Hirsch will handle your business matter with your best interests in mind. Please call today at 516-486-8500 for assistance.