BLOG

Important Details to Include in a Standard Asset Purchase Agreement

On December 9, 2019, in Corporate, by John A. Weber IV, ESQ.

Our previous post detailed the importance of the contract in a Standard Asset Purchase Agreement. Wise attorneys advise business owners to create a contract outlining all the details of the agreement. The purpose of creating a contract is to make sure both the buyer and seller protect their respective rights.

But today’s post is to educate you about the importance of including certain details in a contract. These essential pieces of a contract play a crucial role in a Standard Asset Purchase Agreement.

Types of Assets?

This is something anyone planning to buy or sell a business should know. Different types of assets are valuated differently and including these types are an essential part of any contract. It is the part of a contract that contains crystal clear descriptions and disbursements of all assets mentioned in the agreement.

Intangible assets:

The list of intangible assets described in a contract are good will, names of customers, various contact information for vendors, plus anything personal being transferred. All this information is included in a Standard Asset Purchase Agreement.  It is important to discuss the valuation of these assets and how to account for them with financial professionals including a CPA with business valuation experience

Tangible assets:

The list of tangible assets could include inventory, office furniture, telephone systems, computer systems and networks, tools, fixtures, printed materials, etc. A detailed description of these is mentioned and referred to separately on an exhibit or addendum attached to the Standard Asset Purchase Agreement.  It is also important to discuss these assets with financial professionals including a CPA with business valuation experience. 

In addition to this, you might also list details about the cost of these assets, as well as the terms related to the sale in the contract.

Our next post will be focused on educating you about the importance or role of Liabilities in a contract. This key information will help you make the right decisions about buying and selling a business correctly from a legal, as well as financial, point-of-view.

If you are buying a business or selling a business, the Law Firm of Vaughn, Weber & Prakope, PLLC would be more than happy to offer counsel. Our team is always available in Long Island, Suffolk County, Nassau County; throughout New York, and its five boroughs, to help you with your business.

Reach us anytime! Our doors are always open for you!

More Articles:

The Role of Commercial Litigation Lawyers in Your Business

Key Things to Look For In Your Potential Business Litigation Attorney

Motor Vehicle Accident Bronx

The number of motor vehicle accidents in the Bronx is increasing daily. The hospitalization of three people injured in an accident involving multiple cars, proves this true.

More details of this accident:

This multi-car, motor vehicle accident happened early morning, around 1 o’clock. It happened on the Major Deegan Expressway. At least three people have suffered injuries in this mishap.

All three of them were admitted to Lincoln Hospital for treatment.

Nothing conclusive has been said about the nature of their injuries. According to first responders, everyone injured is in stable condition.

What else?`

A video of this motor vehicle accident posted by Citizen App users, shows the severity of this accident. Cars wreckage from this accident took up almost two lanes, while backing up traffic.

All lanes were cleared and opened to facilitate the rush hour commute, with traffic in both lanes running smoothly.

The cause of the accident is still unknown. Keep coming back to our site to receive future updates about this motor vehicle accident in the Bronx.

If you or a loved one are injured in a car accident call the Law Firm of Vaughn, Weber & Prakope, PLLC at 516-858-2620.  We are here to help.

More Articles:

Common Injuries Auto Accident Victims Suffer

Scooter Rider Dies After Collision With Volvo SUV in the Bronx

The Role of Commercial Litigation Lawyers in Your Business

On November 25, 2019, in Corporate, by John A. Weber IV, ESQ.

The success and survival of every business largely depends on the quality of its assets. Commercial litigation attorneys in New York City, loaded with a wealth of experience, are one of those key assets. It is because they take care of a variety of issues on the legal front.

They deal with a variety of cases and transactions for the organizations they work for. The types of cases they deal with include, but are not limited to, the following:

  • Employee issues
  • Partner disputes
  • Contracts with third-parties

The value commercial litigation attorneys add to your business:

At times, you may think about taking care of your business’s legal issues on your own. This could be very risky for your business. This is exactly where commercial litigation attorneys in New York City prove the value of their experience, skills, and knowledge, in safeguarding your business properly.

Here are some ways they add value to your business and protect you on the legal front:

  • They focus on settling legal issues for your business outside the court. They believe in leveraging the potential of this approach to save money and time, which you can then invest in improving the quality of your business operations.
  • They know the art of resolving issues from the legal as well as business standpoint.
  • They help companies enjoy the benefits of tax-related incentives and protections.
  • In addition to all this, commercial litigation attorneys in New York City represent your business in the following cases as well:
  • Disputes related to employment
  • Litigation oversight
  • Contract Breach
  • General civil litigation
  • Business interference
  • Trade secret identity

The list does not end here. You can learn about it fully once you contact someone capable of taking care of your legal business needs effectively. 

The Law Firm of Vaughn, Weber & Prakope, PLLC, a group of experienced Commercial litigation lawyers in New York City, is the right group to count on. Our team provides legal help to businesses in New York’s five boroughs and on Long Island as well.

Need help? Our doors are open for you!

We will be more than happy to help with your legal needs!

More Articles:

The Role of the Contract in Simple Asset Transfer Agreement
Key Things to Look For In Your Potential Business Litigation Attorney
Truck accident
Motor Vehicle Accident

Motor vehicle accidents often result in the untimely deaths of victims. Tuesday morning brought the curtain down on another life in one such horrible tragedy.

The details of the accident:

The deceased, a 52-year-old man, appeared to be fleeing a hit and run. He was fatally struck by a dump truck. The dump truck did not stop after hitting the victim in the Bronx on Tuesday.

The deceased was discovered at Country Club Road and MacDonough Place in Pelham Bay near 5 a.m. in the morning.

Prior to this, the deceased had sideswiped another vehicle in a minor crash. This crash happened on McLean Avenue. He did not stop, instead fleeing the scene, prompting the other driver involved in the crash to chase him.

How did it happen?

According to police, the victim was heading south on the Bronx River Parkway. This is when it is believed he realized three tires of his car were damaged because of the crash.

Therefore, he saw no choice but to pull over on interstate 95 using the Bruckner Boulevard Service Road. He exited his vehicle and tried to flee on foot. This is when a dump truck struck him. He simply ran in front of the truck, got hit and died instantly.

The police are now hunting for the dump truck involved in this accident, which, ironically, did not stop. The Bruckner Road exit ramp from Interstate 95 has been closed by police to investigate this accident. Keep coming back to our website to receive the latest updates about this accident.

More Articles:

Fatal Motor Vehicle Accident in Manhattan, New York

12-Year-old Suffers Serious Injuries in Motor Vehicle Accident in Long Island

WhiteHouse by PageLines

Copyright © 2019 Law Firm of Vaughn, Weber and Prakope, PLLC
All Rights Reserved