You spent years building up your business from nothing but a dream to something that has become self-sustaining and successful. Now you find yourself ready to move on to whatever new challenges are in store, to build up your capital and begin a new venture or move on to another (perhaps more peaceful) stage in your life. You have finally come to that point in time when it makes sense to sell your business. Where do you begin and who can help you traverse the tangled web of rules that awaits you? An experienced commercial lawyer is going to be your new best friend.
Selling your business can be one of the most satisfying experiences in your life – right up there with marriage, having children, and graduating college. But if you don’t have the right team of advisors and professionals working with you it could easily become a nightmare. For that reason it’s not wise to try and go alone. A top lawyer will be able to scope out the local market to get you the best going rate, as well as to ensure that everything is on the up-and-up in terms of sales documents. Not only do you want to sell at the best price possible, you also want to make sure that that sale doesn’t go haywire and you don’t get screwed over.
Wherever you live, you should do your research and find a lawyer that comes highly recommended, with a wealth of experience – check out this link if you are looking for a business lawyer in Toronto. Make sure that, whomever you choose, they have a solid network of law specialists in a variety of industries to aid them in your file. They will make sure to guide you through the various general and niche tax laws that apply to your sale, as well as give you the best advice possible based on their years of experience. They will also enlist an experienced CPA to help you get your tax bill down to its lowest possible amount and get your financial books in order so that the numbers look their best when buyers come calling.
That’s why if you do not have a team of legal experts at your disposal, like Adam Dwek of Dwek law, you may be leaving a lot of money on the table. Experienced lawyers will help you negotiate your deal, so that you are getting every penny coming to you. It is in their best interest to make sure that your best interest is taken care of, because their payment is often based on your compensation. If the idea of hiring someone to do something you might arrogantly assume you can do on your own puts you off (and don’t be ashamed, a lot of entrepreneurs feel this way), consider that many business sales may take anywhere from two to six years to complete, depending on the complications involved. That’s a lot of coordination and calculation to handle by yourself, when you’d rather be moving on to your next project or the next phase of your life! That’s why it’s much better to hire someone like Adam Dwek to handle all of that stuff for you. After all, who wants to retire to the beach while they’re still worrying about their last project?