Business Sales & Acquisitions:
Las Vegas Lawyer - Litigation Attorney
The business lawyers at Adams Law Group protect the interests of people
and companies buying and selling
small to large businesses in Las Vegas, Nevada, and the nearby communities of
Henderson and Boulder City. Adams Law Group represents buyers,
sellers, business brokers and financing entities.
James R. Adams heads the Business Sales and Acquisitions Department at Adams
Law Group as he has been a business broker and has, in his capacity as
attorney, conducted numerous business escrows. Having represented both buyers
and sellers, the business attorneys at Adams Law Group are well versed in the
art and science of buying and selling businesses. Buying or selling a business
is often the largest single financial transaction undertaken by an individual.
Both the buyer and the seller have a great amount at stake when entering into a
business sale transaction. Unfortunately, there are numerous hazards and
pitfalls for both the buyer and the seller which, sometimes, results in
litigation. In fact, at any given time, the business lawyers at Adams Law Group
representing in the Nevada courts, buyers who are suing sellers, and sellers who
are suing buyers.
Buyers of businesses need to be aware of common scams involving the sale of
businesses. For example, one important factor in valuing a business is the
amount of money it makes. However, books can be doctored, income figures can be
falsified, and the value of assets can be inflated. A common claim of some
sellers is that the business makes more money than is disclosed on the books or
on the tax returns. Sellers may state that cash is "taken under the
table" so as not to have to report it on their tax returns. Buyers should
not have to be at the mercy of a seller's proclaimed honesty, but should verify
all figures, whether reported or not, during the buyer's due diligence period.
Since buying a business is one of the largest investments a buyer is likely to
make, buyers should have a professional attorney with business experience to
represent his interests. The business lawyers at Adams Law Group will conduct the necessary
Uniform Commercial Code searches to determine whether any encumbrances exist on
the assets of the business, and will conduct local, state, and federal tax, lien and
judgment searches. The business lawyers at Adams Law Group will counsel
their clients about
what pitfalls to look out for and will protect their clients in all phases of a
business sale transaction.
In Nevada, a person or company can buy or sell a business through a business
broker without the involvement of an attorney. However, there are some business
brokers that may be more concerned with closing deals and getting a commission
than they are concerned about the welfare of their clients. An attorney may
be retained to represent the client's interests exclusively, regardless of
whether not the deal is conducted through a broker. Therefore, for the highest level of protection
when buying or selling a business, a business buyer or seller should consult an
attorney experienced in business sales.
In addition to being a business lawyer, James R. Adams has co-owned the largest business
brokerage firm in Las Vegas. As a result, he has a practical understanding of
the unique and often complex issues involved in the sale or purchase of a