Special considerations relevant to the sale of a business

Nov 19, 2015 | Small Business Tips

So, you want to sell.

A business, that is.

Every business principal in Southern California or elsewhere who now commands the helm of an established company undoubtedly remembers with crystal clarity the considerable amount of time and effort that was expended in transforming a business vision into a reality marked by a successful enterprise.

It is thus unlikely that such an individual will be caught unaware regarding the sustained focus and work that is customarily required of any business owner seeking to sell a company.

“You only get one shot at this to get it right,” states an online overview discussing the sale of a business, so it obviously needs to be done with due diligence and a well-crafted strategy.

Ideally, notes that primer, a sale takes place in the immediate wake of a perfect storm of factors that drive price to an optimally high level. That means things like an enthused buying public, notably high year-end profits and rosy projections for the future.

Such salutary developments are gravy for a business with a for-sale sign, of course, but they can hardly be expected.

What is more customary is for a business owner to sit down with a seasoned business attorney and other professionals and take an impassioned and studied look at business worth, asset valuation, good will, potential buyers and financing challenges/opportunities.

That can take a considerable amount of time, and it frequently does.

Ultimately, of course, all the material terms and conditions relating to a business sale will need to be set forth accurately and in detail in a sales agreement that requires the close input and scrutiny of a proven commercial law attorney.

For many business owners, the sale of their company is a one-time occurrence in life. Getting it right is more than a hoped-for result. Indeed, it is an absolute imperative.

Latest News & Updates

Meet Our San Diego Attorneys

Thomas F. Gallagher, Esq.

Partner

(858) 926-5797
tom [at] tomgallagherlaw.com

Troy B. Krich, Esq.

Partner

(858) 926-5797
troy [at] tomgallagherlaw.com

Contact Gallagher Krich, APC

What Clients Say:

Mike K., Google

Rated 5.0 out of 5
August 11, 2023

Thank you so much for all your help in resolving a real estate matter so quickly and efficiently.

Mike K
Verified

What Clients Say:

Jonas Y., Google

Rated 5.0 out of 5
December 28, 2022

If you need a “ Closer”, go see Troy. Troy has been one of the best attorneys I have ever worked with. I don’t typically give reviews but after the last case Troy helped me settle out of court, I won’t hesitate to use Troy again! Thanks for all you do Troy !

Jonas Y
Verified

What Clients Say:

Daniel E., Google

Rated 5.0 out of 5
October 11, 2022

I left a voicemail for Tom late Sunday evening and received a phone call first thing the next morning.

Tom was very quick to reply to any questions I had, and if he was caught up in a meeting, he was sure to return my call promptly.

Tom provided sound and logical advice, during a very stressful and uncertain time. At times I asked him to be more aggressive and was often met with the pros and cons of that decision, allowing me to understand the approach and thought process behind his strategy.

Ultimately he provided options for several paths for us to take, worked swiftly, and got us where we needed to be.

He reached out several times to check on my sanity and make sure I was good.

As someone with very high expectations, I would highly recommend his services. He provided expertise that proved to be successful, and also took the time to make sure I was emotionally solid.

Tom assisted with me with a 50% / 50% ownership conflict.

Daniel E
Verified

What Clients Say:

Deanna, LawConnect.com

Rated 5.0 out of 5
February 23, 2022

Really informative and actionable, very grateful to have connected and I look forward to working more with them in the future.

Deanna
Verified

What Clients Say:

Marilyn, LawConnect.com

Rated 5.0 out of 5
February 8, 2022

i liked that a lawyer, and not a staff member, called me to get the details and he gave me his opinion of what his initial thoughts are about my case.

Marilyn
Verified

What Clients Say:

Bob W., Google

Rated 5.0 out of 5
August 30, 2021

What was thought to be a simple breach of contract turned into a nightmare. Through their tenacity and their deep knowledge of the law, we were successful. There is no reason to look any further as you will not get any better representation than this firm. I highly recommend them and strongly suggest that if you are considering starting a business or are already managing one, this firm will guide you, avoiding the troubled waters businesses sometimes find themselves in.

Bob W
Verified

What Clients Say:

Rasmita M., Google

Rated 5.0 out of 5
August 13, 2021

Johnny Nitti helped us with our estate plan. He was very meticulous while drafting the plan and spent enough time to explain the details to us. He filed the deed with county recorder and paid for the fees himself. Overall, Johnny did a great job and we definitely plan to work with him in the future for any updates to our EP.

Rasmita M
Verified

What Clients Say:

George A., Google

Rated 5.0 out of 5
August 7, 2021

Johnny Nitti helped me with my estate planning (will, living trust, etc.) and made the process smooth. He is very responsive and organized. I highly recommend contacting Johnny.

George A
Verified

What Clients Say:

Ashley C., Google

Rated 5.0 out of 5
July 18, 2020

Tom Gallagher is very knowledgeable and helpful when it comes to business law. I reached out to him reguarding the Pandemic and my salon and I’m so glad I did. Many times stress and hard times can fog clarity and he really helped me understand the laws.

Thanks Tom!!!

Ashley C
Verified

What Clients Say:

Evan D., Google

Rated 5.0 out of 5
July 16, 2019

Thank you Troy for everything! Professional, prompt, and smooth handling of my case. I will be recommending to anyone that is in need of a lawyer.

Evan D
Verified