Buying or Selling a Business or Franchise in NYC

Navigating the intricacies of buying or selling a business in New York demands a seasoned approach. The Wright Law Firm boasts a wealth of experience representing numerous entrepreneurs engaged in business transactions. Whether embroiled in intricate negotiations or casually exploring business listings, seeking legal counsel early on is prudent. Our firm is adept at navigating the complexities inherent in business sales contracts, whether they entail asset sales or stock transactions.

Many prospective buyers engage with brokers before seeking legal representation, often at the cost of overlooking crucial due diligence opportunities. At The Wright Law Firm, we balance conducting thorough due diligence and avoiding unnecessary delays stemming from excessive legal formalities.

When buying a business, key considerations include drafting and negotiating letters of intent, contracts of sale, and lease assignments. We guide buyers on whether to opt for stock or LLC membership interest purchases or pursue asset acquisitions. Our services include preparing and negotiating promissory notes, security agreements, and UCC filings for privately financed deals. Additionally, we offer expertise in reviewing and negotiating franchise agreements and Franchise Disclosure Documents (FDDs) for those interested in purchasing a franchise.

Recognizing potential pitfalls is paramount in business acquisitions. The Wright Law Firm has extensive experience defending companies accused of regulatory or licensing violations before entities such as the NYC Department of Buildings, the NYC Environmental Control Board, and the New York State Liquor Authority. This expertise enables us to assess potential risks associated with a seller’s business meticulously.

Our track record speaks volumes. For instance, we facilitated the purchase of a restaurant in Midtown Manhattan, handling due diligence, lease negotiations, contract drafting, and liquor license applications. Similarly, we oversaw the asset purchase of an iconic restaurant in Brooklyn Heights, managing the entire transaction process from due diligence to closing. Even in cases where clients could afford all cash purchases, we adeptly structured deals to include seller-financed loans and security agreements, providing safeguards against post-closing liabilities.

The Wright Law Firm stands ready to assist those seeking informed legal counsel in business transactions. To schedule a consultation, email or call 212-619-1500.