Roybal-Mack & Cordova, P.C. is a firm dedicated to guiding clients through the process of negotiating the execution and post-execution of a commercial law transaction. Many of the clients we help are forming business entities and need our advice on which commercial transactions they should pursue or how to complete the required paperwork for individual types of commercial transactions.
The individual types of commercial transactions that are commonly used by our law firm are:
- Business sales
- Sales of personal property and real estate
- Contracts between business pertaining to sales or services exchanges
- Joint ventures formation
- Business entities formation
- New business relationship contracts
- Buy-sell agreements and shareholder paperwork
There are a long list of procedures and tasks involved in business sales. For buyers, the concept behind the purchase of business is future profitability. In addition, a buyer wants to ensure that the business buy is worth its price, the financial records are complete, the IRS is satisfied with their records, there are no debts that can drag down the finances of the business, and all of the vendors are currently paid up. If all of these concerns have been addressed and a lease can be assigned, a commercial law transactions law office closes the case on the initial stages of a business buy.
In other instances, additional paperwork is needed because the business buyer may want the former owner to sign a non-compete agreement. These documents can protect future profits, and if they are violated, they will form the basis in future lawsuits against the previous owner.
For business sellers, the main idea behind hiring a commercial law transactions firm is protecting yourself from future lawsuits. Generally, the documents created for the seller of a business will state in subsequent provisions that the buyer of the business should not rely on any representations made by the seller since the buyer should have completed their own investigation of the business before purchasing. Working with an attorney that covers commercial transaction cases will allow the seller of a business to structure the contract to the sellers benefit.
Other business buyers will need paperwork and research created for buying into a corporation. For instance, buying into a corporation usually means buying stock or purchasing individual assets. In these situations, commercial transaction law professionals and the buyers accountant work together to ascertain if the corporate buy is going to be a profitable purchase.
Sales of personal property and real estate
Investors that buy real estate or a large amount of personal property from a business (such as computers, furniture, etc.), will need commercial transaction law services. Mainly, an investigation will need to be conducted to ensure there are no encumbrances or liens on the property in question. For personal property purchases from a business for higher dollar amounts, commercial transaction law offices can create a bill of sale.
For businesses selling real estate or personal property, there must be a clear title for the property in question. A lack of precision in documentation during a sale could lead to a lawsuit in the future.
Contracts between businesses pertaining to sales or services exchanges
Making a business deal on a handshake does not have the benefits it once did. For example, tax benefits could be lost on both sides of the deal if there is no official documentation. When clients have disputes arise, services exchanged on a gentleman’s agreement also seem like they could have easily been avoided by having legal paperwork created by commercial law transaction professionals in writing for the sale or exchange of services.