Gagandeep Randhawa’s Post

View profile for Gagandeep Randhawa, graphic

Founder / Principal Lawyer at Hukam Law Professional Corporation

Before buying an existing business, it’s crucial to ask the right legal questions to protect your investment. Specifically, these are 4 key legal tips to consider: 1️⃣ Review the Company’s Liabilities Ensure you're aware of any outstanding debts, pending lawsuits, or unfulfilled obligations. Conduct a thorough review of financial statements, contracts, and liabilities to avoid inheriting problems. 2️⃣ Understand Employee Contracts and Obligations Check for any ongoing employment agreements, severance terms, and union involvement. This will help you avoid unexpected legal responsibilities after the acquisition. 3️⃣ Examine the Business’ Intellectual Property Verify ownership and protection of intellectual property, trademarks, patents, and copyrights. Make sure that any IP is properly transferred and protected under the sale. 4️⃣ Assess Pending or Expiring Contracts Review leases, supplier agreements, and customer contracts that might be about to expire or require renegotiation. These contracts can significantly affect the value and stability of the business post-acquisition. ✅ Make sure you're not overlooking any hidden legal risks when buying a business. Contact us for professional legal advice before you move forward with any acquisition. 📞 705-915-0884 Disclaimer: This post is for informational purposes only and should not be considered legal advice under any circumstances. #HukamLaw #CommercialLaw #Barrie #Brampton #SimcoeCounty #BusinessLawyer

  • No alternative text description for this image

To view or add a comment, sign in

Explore topics