Business & Employment Law Attorney
866-693-5541 | 303-424-4286

Mistakes buyers make when acquiring a business

Individuals in Colorado or elsewhere who are buying a business for the first time may be vulnerable to making critical errors. For instance, they may neglect to do due diligence before agreeing to purchase a company. While a company may be doing well today, it is important to figure out why it is successful. Performing due diligence can also help a potential buyer determine if there are any issues that may impact a company's chances of future success.

Ideally, a prospective buyer will ask why the company is being sold. In many cases, established companies are put on the market because their current owners want to retire. However, it is also possible that a competitor is coming to town and an owner wants to sell before his or her company becomes less valuable on the open market.

After buying a company, it is generally a good idea to wait a few weeks or months before making any significant changes. This is because the company's current employees might be hesitant to embrace change when they are worried about their job security. By gradually changing workplace policies or practices, workers will have time to embrace them. New owners should also spend time talking to workers to get a sense of what is working and what isn't working.

Buying a company can have a significant impact on a person's financial future. Therefore, it is important for a prospective buyer to spend as much time as necessary doing due diligence before closing on a sale. An attorney may be able to help those who are involved in complicated business transactions. Legal counsel might help draft a purchase agreement, take steps to obtain regulatory approval or answer any questions a buyer has before a sale is finalized.

No Comments

Leave a comment
Comment Information
  1. "I used the Bryan E. Kuhn, Counselor at Law, P.C. team to help me with a case. They were always professional, upfront, and positive providing guidance while keeping me informed."
    - L.H.

  2. "Everyone at the firm was professional, responsive and courteous. Kate was exceptionally knowledgeable and responsive and she helped me to achieve the desired outcome. I would definitely recommend this firm if you are in need of superior legal assistance."
    - J.S.

  3. "Bryan and his law firm operate with great professionalism and personal touch. I appreciated the way he and his team offered transparent communication."
    - N.S.

  4. "Kate & team were very professional in helping me to get through an uncomfortable ADA situation at my workplace. This was a very good legal experience. I would recommend Bryan E. Kuhn & team to anyone who needs work related legal help."
    - D.L.

  5. "Bryan, Katie, and all the staff in this office are super fast to respond, expert in their fields, and always helpful. We have been extremely pleased with their services for our small business."
    - T.Z.

  6. "Working with Bryan was amazing. His professionalism made a very stressful and difficult challenge as positive as possible. A great lawyer"
    D.K.