One of the key aspects to enable a successful business acquisition is conducting legal due diligence, which is the process of examining the target business’s documents and information to identify potential risks. Nearly half of business transactions fail due to issues found during the due diligence process. For this reason, as a seller, it is […]
Legal Due Diligence in M&A: How to Do it + Checklist Read More »
In a chain, all store locations are owned by a parent company, while in a franchise, units are owned and operated by separate individuals who contract with a franchisor to use the parent company’s business model and trademarks. In this article, we will break down the differences between chains and franchises. What is a Franchise?
Franchise vs Chain: What are the differences between the two business models? Read More »
According to the Corporate Transparency Act, which will be effective starting January 1st, 2024, certain companies should file specific information about their beneficial owners. Who needs to share this information? The “beneficial owners” are those who directly or indirectly have substantial control over the reporting company, or at least 25% of the ownership or voting
Who are the beneficial owners of a company? Read More »
A close corporation, also known as a closely held corporation, is a type of business entity where the majority of the ownership is held by a small number of shareholders. Typically, these shareholders are family members, friends, or a small group of individuals. This type of corporation is often characterized by a more intimate and
what is a close corporation? Read More »
FedEx, short for Federal Express, is a globally recognized courier delivery service that specializes in small package information, transportation, pickup, and delivery domestically or internationally between the US and Canada. Did you know that you can buy a FedEx route and benefit from each delivery that you make in your assigned territory? FedEx is one
How to buy a FedEx route? Read More »
The trucking business in Illinois is a lucrative industry that offers great growth opportunities and a valuable service for the community. However, logistics and transportation are heavily regulated industries. To operate those businesses in Illinois, not only will you need a strategic business plan but also a thorough understanding of the legal and compliance requirements.
How to start a trucking company in illinois Read More »
When buying a business, an asset purchase agreement (APA) is the contract under which a seller transfers some or all the company’s assets to a buyer. This legal document outlines the price, terms, conditions, and warranties of the deal. With an asset purchase agreement (also known as an “asset transfer agreement”), the company sells only
What is an asset purchase agreement? Read More »
When it comes to business, contracts are going to be a focus, especially if you have connected with clients and other businesses. When establishing a contract, it’s important to do everything you can to reduce risk and make sure that all parties involved understand their duties and responsibilities. Whether you are just starting your business
What To Know About A Legally-Binding Contract Read More »
In the context of a business acquisition, a letter of intent (LOI) is a document that defines the preliminary terms of the transaction and formalizes the intention of two parties to engage in it. Typically, the letter is created by the purchasing party, who proposes a price and outlines the structure of the negotiation. Although
Letter of Intent to Purchase a Business Read More »
What is a no-shop clause? A non-shop clause, also known as an “exclusivity clause”, is a provision often included in business contracts, particularly in merger and acquisition (M&A) agreements and letters of intent. This clause is designed to restrict one party to the contract, typically the seller or the target company, from actively seeking or
No Shop Clauses in M&A Read More »