Tag: Simple Business Purchase Agreement

Scope & Role of a Commercial Litigation Lawyer

On May 7, 2020, in Litigation, by John A. Weber IV, ESQ.
Commercial Litigation Attorneys

Commercial litigation is one of the most complex areas of the law since it contains different speciality areas that come with various legal implications and regulations. Often referred to as business litigation, this area of law is comprised of various spheres, which often arise in the context of business. The expertise of commercial litigation lawyers in Queens, Nassau County or Suffolk County can get you the required results.

The scope of commercial litigation includes disputes such as:

  1. Breach of contract
  2. Partnership & joint enterprise disputes
  3. Business torts
  4. Civil litigation
  5. Breach of fiduciary duty
  6. Shareholder to shareholder litigation
  7. Class actions

Sound judgment and strategic decision hold a dominant place when it comes to resolving business disputes. It also implies that two or more parties try to resolve conflicts that arise in the business and all the parties appeal to the legal system.

Role of a Commercial Litigation Lawyer

A commercial litigation lawyer is a legal expert who stands on behalf of the company and represents the company’s interests in a financial dispute. In other words, the main role of a commercial litigation lawyer is to protect the rights of the company.

After you contact a commercial litigation lawyer for legal guidance, he will analyze your case. He will then provide you with the best possible legal solution and help obtain appropriate outcomes at the end of the litigation process. Remember though, there are many steps for a commercial litigation lawyer between contacting them and achieving the best outcome. Here are the common roles of a commercial litigation lawyer.

  1. Conducting an initial evaluation of the case
  2. Drafting the required pleadings
  3. Analyzing the strengths and/or weaknesses of the instant matter and effectively communicating same to the client.
  4. Forming responses to the other party’s complaint
  5. Exchanging information with the other party
  6. Preparing necessary documents to support the lawsuit
  7. Selecting the best strategy to be deployed in court
  8. Presenting the case in court
  9. Negotiating with the lawyer of the other party
  10. Appealing the case if necessary

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Picking the right firm is half the challenge in these cases. Commercial litigation lawyers in New York City and Long Island have the required knowledge and experience in dealing with commercial litigation. Contact us to learn more!

The Role of Commercial Litigation Lawyers in Your Business

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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!

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The Role of Commercial Litigation Lawyers in Your Business

Key Things to Look For In Your Potential Business Litigation Attorney

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