In the business world there are always deals to be made, regulations to comply with, financing to secure, and other contracts to review. We help companies that may not be at the level of having in house counsel by providing in house counsel services on an as needed basis.
If you want to start, manage, transfer, or exit a business, you may benefit from hiring a business attorney who works with many different industries and professional fields. The experience and diverse business law backgrounds of our attorneys allow our firm to consult and guide our clients in all aspects of forming, operating, purchasing, and selling businesses.
How we can assist with your business ventures
Formation and Organization
Entrepreneurs often already understand a corporation, limited liability, or some type of partnership will provide more protection than a sole proprietorship or a general partnership. Clients more often need help deciding which business form suits them best and how to manage the corporate affairs. Here at Watts Law, PLLC, we consider all of the parameters behind you starting a business and will recommend the business entity type and help form, organize, and keep records updated to reduce an owner’s risk of liability.
Buying and Selling of Goods and Services
A contract can simply be an agreement for a service or product to be provided for a specific purchase price. However, many times more is needed in order to manage risk, set boundaries, and control expectations. We will draft and review contracts to help clients manage risk in the buying and selling of goods and services in any jurisdiction in which we are licensed.
Mergers and Acquisition
Entrepreneurs want to be able to both grow their business by acquisition or to be able to sell what they have built and enjoy the fruits of their efforts. The transactions of either the purchase or the sale of businesses are very involved and contain significant room for error. To even begin discussions, you may need a non-disclosure agreement in order to protect raiders from trying to get something for nothing. A letter of intent or memorandum of understanding can set forth the initial broad terms to establish a negotiating agenda for the purchase contract. Then the specific terms of the purchase need to be discussed and agreed upon and clearly written out. Due diligence must be completed. Financing may have to be arranged, and documents securing payment need to be drafted and/or reviewed.
We assist both buyers and sellers negotiate, draft, and revise legal instruments controlling the transaction and also assist clients with all related issues so that they can attend the closing meetings and confidently sign knowing that they have received what they bargained for and are ready to move forward without having to look over their shoulder.
A buy-sell agreement is an important part of properly establishing your business entity and can limit liability in your business structure. The buy-sell agreement prevents an owner from selling their interests to an outsider without the consent of the other owners. It also provides an orderly and equitable method of determining the value of each owner’s interest in the business.
Buy-sell agreements are typically used by businesses structured as partnerships and closed corporations. Essentially, they ensure a smooth transition of ownership should a partner retire, die, or exit the business.
A Buy/Sell Agreement can be a separate agreement, or it can be part of the organizational documents of the business entity. Whatever the name or the form, business owners often want to regulate ownership and voting rights, control management of the company, and plan for the resolution of future disputes among owners. We advise our clients and help negotiate these types of agreements, helping to reduce the potential for court and conflict among business orders.
Contract Drafting and Review
Contract disputes are a bane to businesses. Almost every dispute is due to ambiguity in the language of the contract. Watts Law, PLLC has the knowledge and experience to prevent you from encountering ambiguities in your contracts. Knowing how indefinite terms in a contract can be the cause for conflict or litigation, we will diligently define the terms important to you so that you avoid future issues.
We can help with business contracts, property licensing agreements, end-user license agreements, shareholder and partnership agreements, non-compete agreements, operating agreements, employment contracts, commercial leases, vendor or supplier contracts, equipment leases, arbitration disputes and more.
Watts Law, PLLC can also assist with personal contractual situations. It’s always best to protect your interests through contract advice from an attorney. We can assist you by reviewing employment or severance agreements, real estate or sales contracts, and sales or purchases of valuable property. Every situation is different, and every contract is different, so it is important to get some trained eyes on it.