Do You Need a Lawyer if You Are Buying a Business? David Cole / February 14, 2021 You’ve been planning for years, and you’re finally ready to jump in and make your dreams come true by buying your own business. It is an exciting prospect, but it can also be quite a complicated venture. Here are some reasons why one of your first steps should be to hire a lawyer. A lawyer will be able to explain important factors to you, such as a business’ liabilities, assets, and equity, as you consider whether or not to buy a business. You will want a lawyer to make sure that no details are overlooked if you do decide to buy the business, for your protection.A lawyer can help identify potential problems with the business. An experienced lawyer will know what to look for in the business’ contracts, leases, and other documents that might spell trouble for you down the road.He or she will know what licenses are needed and what documents need to be filed with government agencies.A lawyer may have advice on negotiating with the seller so that you get the best deal.A lawyer can help you decide how to set up your business for taxation and other purposes. Your business may be best as a limited liability company, a general or limited partnership, or a corporation.He or she will be able to help organize your company for the day-to-day operations and can help set up documents your company needs, such as articles of incorporation.A lawyer knows how to effectively work with your financial advisor and others to ensure you are doing everything right. The idea of buying a business is very exciting, but you want to make sure you do it right to avoid future headaches. Finding a good lawyer at the beginning of the process is a great start to making your dreams come true. It also means you already have someone you can count on if you need a lawyer in the future. Protect yourself, your business, your assets, and your future by contacting the Cole Law Office in New Hampshire. Call (800) 909-LAWS (5297) for a consultation.