Business Sales or Acquisitions – I was in my law practice in South Florida for almost two (2) years when a client came to me with a lawsuit that he had been served with two (2) days earlier. About three (3) months earlier, he had sold a fifty percent (50%) interest in one of his businesses. Honestly, it was a really good deal for the buyer. However, the buyer didn’t want to pay his next installment payment, so he found an attorney willing to file a lawsuit against my client alleging fraud in the inducement and misrepresentation. I offered my client to help him find an attorney who was experienced in this type of litigation. My client told me that I was his attorney and wanted me to represent him in the lawsuit.
I quickly learned what were the obligations of the seller and those of the buyer in the sale and purchase of a business. I learned the differences between a transaction where the corporation’s shares of stock are sold and where only the corporation’s assets are sold. I then used this knowledge over the next thirty plus years to represent dozens of buyers or sellers in business sales or acquisitions.
The types of businesses that I have represented a buyer or a seller have run a wide gamut. Interestingly, frequently I have gone on a run of the same or similar type businesses. For example, at one point in time, I was involved in the sale of several gas stations with markets in a row. Then I was involved in the sale of convenience stores. I have been involved in the sale of many dry cleaning stores. I point out these types of business transactions as they illustrate what I believe to be my strength as an attorney. I don’t claim to be knowledgeable of every area of law. However, when I need to, I can research and find the answers. For example, I had to learn many aspects of the Petroleum Marketing Practices Act when involved with a service station transaction. I needed to learn the laws of the Environmental Protection Agency when involved with dry cleaning stores. I have been involved with the sale of a private school, property management company, tennis equipment store, medical offices, dental office, law practices, car dealerships, a bakery route, a bakery, and many more.
