Florida Business Purchases and Sales

Category: Florida Business Law
Hits: 2020

Florida Business Purchase Overview

Russell Law and Patrick Russell, Esq., a Florida Business Lawyer, are available to assist you with your Florida business purchase or sale.  Russell Law can prepare or review all sales transaction documents and agreements. Patrick Russell, Esq. will assist you with your due diligence review and help you conduct an analysis of the impact upon existing business agreements and commitments. Russell Law can also update all necessary corporate and business license records to ensure a smooth transition after your purchase.

Purchase of Existing Florida Business

In some instances, it may be better for you to purchase an existing business rather than start a new business. There are numerous advantages to purchasing an existing business, including the fact that all the preliminary work has already been done. An existing business should have a tax identification number, bank account, and all necessary city, county, and state licenses. On the other hand, there are also some risks in purchasing an existing business, namely the business may have certain debts that you do not want to incur or contract obligations that you do not like. In order to protect your interests and assess whether buying an existing business is right for you, a thorough review of the business, its assets, debts, and contractual obligations must be conducted. For example, one of the most important contracts to review is the lease for the business space. You may find that the landlord’s permission is needed in order to continue with the lease after a sale of the business. The process of reviewing a business prior to purchase is called due diligence review. After you have conducted your due diligence review, you will need to decide if the business is right for you and if so, whether you will purchase the shares in the business or just the assets of the business. If you purchase all shares in the business, you will only need to update the ownership information for the business. For example, almost all business licenses will need to be updated to notify city, county and state officials that there has been a change in ownership. On the other hand, if you only purchase the assets of the business, you will still need to incorporate your own business entity and obtain your own tax identification number, bank account and business licenses.

News / Updates

It is PTSD Awareness Month, learn how PTSD is integrated into our Veteran interviews #oralhistory #ptsd #veterans https://t.co/5eOIXDD9rR
3 of 5 stars to Mindfulness for Beginners by Jon Kabat-Zinn https://t.co/PJInwXMQHc
5 of 5 stars to From Wheat Fields to Battlefields by Robert F Shelato https://t.co/O4BjjV67S5
Watch my interview of WWII Veteran Brodie Hand - paratrooper from the 82nd Airborne and POW #WWII #oralhistory #pow https://t.co/nZryk2NzwQ
RT @mediatecom: "This Week in Mediation" #676 is now available at https://t.co/r4mgKhYgzw. Free subscription. #mediators #mediation #adr #…
RT @cedrsays: Interesting article on how #mediation can help with #mental health workplace disputes: https://t.co/1ivbeTcDgf #MentalHealthA
RT @MiamiVAMC: This #MentalHealthAwarenessMonth, learn about five ways to support a #Veteran who has #PTSD: https://t.co/iodHxZCqWE https:/…
What would you like to see in the future for #mediation?
Can the process and experience of mediation be improved, and if so, how? #Mediation #Mediator #ADR https://t.co/lBli4SfFL3
What is missing from the mediation process or if you could, what would you change about mediation? #mediation #ADR https://t.co/g6ATWrIuVU