Business Matters (Hover over highlighted links for definition of term)

» Starting a Business | Business Related Issues | Human Resources Issues | Selling or Purchasing a Business

Whether you are starting a business, have an ongoing business, or you are looking to retire from a particular business, competent legal representation will continue to be necessary at every step along the way. 

Starting a Business

Whatever business form you choose, Corporation, LLC, Partnership (General Partnership or LLP), or D/B/A Sole Proprietor, you must register your business with the Secretary of State (or similar office) in the state in which your business is located (Missouri Secretary of State). In most cases you can go the Secretary of State’s website, print, and sometimes file online the required forms to legally form your business.

Are you sure, though, that you know the meaning of all the terms on those forms and what legal or tax effects your answers may have? Do you know what impact the choices you make will have on the business' creditors ability to reach your assets? What happens if you have a falling out with your partner(s) - a business divorce can sometimes be uglier than a marital divorce. A poor combination of choices may result in your business paying more taxes by not protecting you from the business' liabilities.

At Leonard W. Buckley, Jr., P.C., we will work with you to guide you through the whole process of setting up the business into which you are investing your time, energy, and money. We will help ensure that your business meets your and any partners' needs, protects you and your family, and can grow with you.  

Business Related Issues

Persons who own or manage a business encounter situations where they need legal representation on an ongoing basis. Successful business persons make sure that they, and the persons they do business with, understand the Contracts they enter into and its terms. In the event the other party to a contract doesn't perform, a well drafted contract by an attorney will ensure the best chance of recovering what is owed.

The disputes that sometimes result in lawsuits can often be avoided by a well drafted agreement because everyone understands their rights and responsibilities. Our goal in preparing and reviewing contracts for our clients is to avoid future litigation, and to give our clients the best chance at having a successful and profitable business deal.

Individuals and companies will commonly encounter many different types of contracts including everyday sale contracts, purchase orders, subcontracts, Non-Competition Agreements, vendor agreements, loan agreements, and stock or asset purchase agreements. The attorneys at Leonard W. Buckley, Jr., P.C., are experienced in negotiating and drafting these types of agreements. Oftentimes it is a well drafted contract that is understood by all parties that prevents a dispute from arising or enables the parties to resolve their disputes out of court.  

Human Resources Issues

Leonard W. Buckley, Jr., P.C., represents both employers and employees relating to human resources issues that arise frequently. Our offices consult with clients relating to such matters as negotiating severance agreements, enforcing rights under company employment policies, implementation and administration of drug testing policies, drafting employment agreements, and matters regarding employee benefit packages.

Sometimes, however, even the most complete agreement does not always guarantee that disputes won't arise. Sometimes contracts become no longer economical and sometimes parties just don't honor their obligations under contracts. Your attorney at Leonard W. Buckley, Jr., P.C., is experienced in negotiating equitable resolutions to disputes and, if need be, will vigorously litigate to enforce your rights.  

Selling or Purchasing a Business

Whether you are buying or selling a a multi-million dollar conglomerate or a corner store, you have invested or will be investing a substantial amount of your time, energy, and money into the business. Business sellers not only want the transaction to be for fair compensation, but also want the business to succeed. Likewise, if you are purchasing a business you want to make sure that you are receiving what you are paying for, that all Due Diligence is performed so that there aren't any surprises in store for you.

Our firm negotiates and drafts agreements for the sale and purchase of business interests and assets, and works with you to make sure that your interests are served. Business sales are always more complicated than just receiving a check and handing over the keys.

You know your business best and are in the best position to determine, with the assistance of your accountants, its value; but when the time comes to structure the purchase or sale of your business, there are a lot of issues that need to addressed:

• What are you buying/selling? Is it a purchase of just the business assets, or are you taking on the business' liabilities, too? Is this a stock sale or an asset sale?
   
• What are the tax implications of the sale? Can the purchase agreement be drafted differently and perhaps reduce taxes? Our firm works with you and your accountants or tax advisors to put you in the best position after the closing.
   
• Is the purchase price being paid in full at closing or is it being paid over time? What are the terms of the promissory note? What are the remedies in the event of a breach?
   
• Is there a Covenant Not to Compete as a part of the purchase/sale?
   
• What promises or guarantees might you be making (without knowing it)?

Your attorney will help guide you through the process, whether as a purchaser or a seller.