Corporate Lawyers When Selling Business Assets
Corporations have assets. At some point, a corporation or business may sell its assets. Asset sale lawyers help protect you, your company and its assets. The Asset sale lawyers at Kahane Law Office in Calgary, Alberta are able to help.
Two Ways of Selling a Business
Business can be sold in two ways. They can be sold as an asset sale or as a share sale. We also provide more information about buying a business and selling a business so you know what to be aware of during this process. The federal government also has information about Selling business shares and assets.
Share Sale of a Business
The sale of a business by selling its shares is the sale of the corporation itself. Part of a corporation’s shares can be sold or all of them. Every asset of the business, including intangible assets like goodwill and phone numbers are included in the sale. There are also tax advantages and disadvantages in doing so. It is very important that you speak to one of our share sale lawyer prior to signing any contract.
Asset Sale of a Business
An asset sale is different than a share sale in that only the individual assets of a business are being sold. Once again, a specific asset may be sold or all the assets (or any combination off the corporations assets may be sold.) As with a share sale, there are also tax advantages and disadvantages in selling the assets of a business. It is very important that you speak to an asset sale lawyer prior to signing any contract.
How Do You Sell a Corporation’s Assets
Asset sale lawyers can help you understand the process of selling a corporation’s assets. The quick answer of how is easy. Asset sales are done by contract. Once the terms of the sale are negotiated, then asset sale lawyers can draft the contract to reflect the terms.
Why Do I Need Asset Sale Lawyers in Calgary?
There are many potential pitfalls when you sell a business. Both corporate share and corporate asset sales have pros and cons. A asset sale lawyer will be able to help you avoid costly mistakes. Once a contract is signed, it is much more difficult to protect yourself. Some of the hidden dangers include:
- Capital gains
- Income tax
- Loss of one time tax exemptions
- Asset debts / depreciation issues
- Loss of security
- Loss of business
- Shareholder issues
- Minute book legal issues
Calgary Lawyers for Reviewing Asset Sale Contracts
If you have been presented with an offer for your business by way of contract, memorandum of understanding or letter of commitment, it is essential that you speak to a asset sale lawyer before you sign anything.
Find a Calgary Lawyer For Selling Business / Corporate Assets
The Calgary asset sale lawyers at Kahane Law Office can help when you are selling your business or corporate assets. Call us now so that we can get involved early in the process to help ensure that you start off properly and protected. Connect Today! We can be reached toll-free at 1-877-225-8817 (or (403) 225-8810 locally in Calgary, Alberta), or Email us directly here when selling assets