ASSET PURCHASE AGREEMENTS: Pre-Closing Considerations in North Carolina
by
WESLEY SCOTT JONES on Dec. 14, 2013
Business Business Merger & Acquisition Business Business Organization
Summary: Wilmington Business Lawyer Wesley Scott Jones discusses a few of the considerations a Buyer of Business Assets should consider and resolve prior to closing a Business Asset Purchase in North Carolina. Wesley Jones is an attorney practicing in Wilmington, NC (New Hanover County).
Depending upon the type of business assets that you want to purchase, the following are just a few of the things that a potential Buyer should consider:
- Do you need a Nondisclosure Agreement with the Seller?
- Is there an existing Broker/Finder Agreement that affects the transaction?
- Have you determined all of the Related Parties on which due diligence should be performed (Seller, Stockholders/Members, Subsidiaries, or other Affiliated Entities)?
- What is the Lien Status of the property to be conveyed?
- Can the Seller produce a Certificate of Good Standing from the Secretary of State?
- Are there any Third Party Consents required by Contracts with third parties that are to be assigned by Seller and assumed by Buyer?
- Have you reviewed the Seller's Financial Information?
If you are planning to Purchase the Assets of an existing business, these are just a few of the considerations that must be thought through and preferably verified prior to Closing on an Asset Purchase transaction in North Carolina. If you need help, call an experienced Business Attorney for advice and help. Call Wesley Jones now at 910-256-5800 for a free telephone consultation.
Wesley Jones is a Business Lawyer serving in Wilmington, North Carolina serving all of Southeastern North Carolina including New Hanover County (e.g. Wilmington, Kure Beach, Wrightsville Beach, Carolina Beach and the areas of Ogden, Masonboro, Myrtle Grove, Landfall, and Mayfair), all of Pender County (e.g. Burgaw, Surf City, Hampstead and Topsail Beach) and all of Brunswick County (e.g. Bald Head Island, Bolivia, Calabash, Leland, Shallotte, Southport, Saint James, Ocean Isle, and Oak Island).