After completing the due diligence process, a buyer will have enough information to make a final decision upon closing the transaction. The Letter of Intent will have laid out the basic process for closing the purchase or sale of the business, but what exactly is involved in closing the transaction? As lawyer's often state, it depends. ...
Category Archives: Business Formation
Texas Buy-Sell Agreements
A lot of SBOs have probably heard the term "buy-sell agreement," but aren't really sure what they are, how they work, or why they would need one. What is a buy-sell agreement? Think of a buy-sell agreement as a sort of prenuptial between business partners. It is easier to negotiate the terms of a departure ...
Recent Posts on S-Corps
S-Corporations are one the more common business entities that I receive inquiries about and it appears that S-Corps have been a hot topic in the Texas blog world recently. Greg Price, author of the ...
Common Mistakes Made by SBO’s (Linked)
I decided to go ahead and repost my original list of Common Mistakes Made by SBO’s with links to each post for ease of navigation. So without further ado, here you go: Common Mistakes ...
Mistake #3: Over-emphasis on the type of business organization
Whenever someone starts a new business one of the first decisions they are confronted with is the choice of entity. There are a wide variety of business entities to choose from in Texas. Some of the more ...
Mistake #1: Undercapitalization
Money makes the world go round and your business is no different. Someone, somewhere, came up with the well recited statistic that over half of all small businesses fail within the first two years. Obviously there are ...
Category Archives: Business Formation
Texas Buy-Sell Agreements
A lot of SBOs have probably heard the term "buy-sell agreement," but aren't really sure what they are, how they work, or why they would need one. What is a buy-sell agreement? Think of a buy-sell agreement as a sort of prenuptial between business partners. It is easier to negotiate the terms of a departure ...
Recent Posts on S-Corps
S-Corporations are one the more common business entities that I receive inquiries about and it appears that S-Corps have been a hot topic in the Texas blog world recently. Greg Price, author of the ...
Common Mistakes Made by SBO’s (Linked)
I decided to go ahead and repost my original list of Common Mistakes Made by SBO’s with links to each post for ease of navigation. So without further ado, here you go: Common Mistakes ...
Mistake #3: Over-emphasis on the type of business organization
Whenever someone starts a new business one of the first decisions they are confronted with is the choice of entity. There are a wide variety of business entities to choose from in Texas. Some of the more ...
Mistake #1: Undercapitalization
Money makes the world go round and your business is no different. Someone, somewhere, came up with the well recited statistic that over half of all small businesses fail within the first two years. Obviously there are ...