How is the responsibility for defending against any pre-closing lawsuits or claims allocated between the buyer and seller?
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what is a purchase agreement for a business Informational
- What are the key considerations when purchasing a business that has a significant amount of specialized equipment or machinery that requires maintenance or upgrades? What are the specific clauses that might be included in a purchase agreement for a business that has a significant amount of customer data that is subject to international privacy laws?
- What are the potential legal and financial implications of inheriting pre-existing contractual obligations of the selling business? What are the specific clauses that might be included in a purchase agreement for a business that is undergoing a significant strategic shift or transformation?
- How is the responsibility for updating legal and regulatory filings to reflect the change in ownership allocated?
- How is the treatment of any outstanding or potential intellectual property infringement claims handled?
- What are some common mistakes to avoid when drafting or reviewing a business purchase agreement? Is a purchase agreement legally binding once signed by both parties?
- What are the potential consequences of misrepresenting information in a business purchase agreement? What are the specific considerations for drafting a purchase agreement for a service-based business?
- What role do advisors (e.g., lawyers, accountants, brokers) play in the process of creating a business purchase agreement? What is the difference between a letter of intent (LOI) and a definitive purchase agreement?
- What provisions might a purchase agreement include regarding the transfer of real estate used by the business?
- How is the transfer of social media accounts and online presence handled in a business sale?
- How is the treatment of any ongoing philanthropic activities or community involvement handled after the sale?
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