A business acquisition is an exciting time in the life of any entrepreneur, but anyone who’s been through this process knows that it can be quite complicated. There are many legal implications involved when the ownership of a business is passed from one party to another. If you’re wondering what kind of legal representation you’ll need to guide you through this process, the answer isn’t necessarily simple. Different types of acquisitions may require different types of legal aid. Here are the different types of lawyers who might be able to guide you through this process, depending on the specific details of this particular acquisition.
Mergers and Acquisitions Lawyer
This is the most basic type of attorney who’s generally utilized in a business acquisition. This type of lawyer is trained to oversee the contracts involved in the transfer of ownership of an organization. This type of attorney can be utilized in the simplest cases, whereas more complex acquisitions may require the aid of a securities lawyer.
Securities Law Attorney
If the business acquisition in question involves the transfer of ownership of stocks, financial investments and equity, you might need the legal aid of an attorney who specialized in securities law. The law surrounding securities is always rapidly changing. You may need the aid of a securities law attorney who is aware of the current rules and regulations concerning the transfer of ownership of stocks and securities.
While acquiring a new business might mean that your income skyrockets, it can also mean that your tax burden will skyrocket as well. Even if you’ve successfully done your own taxes in the past or currently work with an accountant who you trust, it’s a good idea to consult with a tax attorney who’s familiar with business acquisition.
Estate Planning Attorney
If you’ve recently acquired a new business, then your assets and net worth have just changed dramatically. Now is a good time to consult with your estate planning attorney to ensure that your new business is accounted for in your will and estate plans. While it might be a tad depressing to think about your untimely demise during this exciting period in your career, it’s better to be safe than sorry, especially if you have a family.
If you consult with these legal professionals during your business acquisition, you can avoid a lot of headaches and worst-case scenarios.
Author information: Kara Masterson is a freelance writer from Utah. She enjoys tennis and spending time with her family.