The Law Office of
Timothy W. O'Hara
Frequently Asked Questions (FAQs)
What types of business transactions does your office assist with?
Our office assists with a wide range of business transactions, including business sales, acquisitions, mergers, professional practice transitions, entity ownership transfers, buyouts, contract review, commercial lease matters, and related real estate transactions.
Do you help with the sale or purchase of professional practices?
Yes. We assist with professional practice sales and acquisitions, including medical, dental, and other professional service businesses. These transactions often involve unique issues such as licensing, patient or client records, goodwill, equipment, restrictive covenants, commercial leases, and transition obligations.
Can you assist with both the business and the real estate involved in a transaction?
Yes. Many business and professional practice transactions involve both the sale of the business and the purchase, sale, or lease of related commercial real estate. Our office can assist with transaction documents, lease agreements, purchase agreements, assignments, due diligence, and related legal issues.
What is included in a business sale or acquisition?
A business sale or acquisition may involve the transfer of assets, ownership interests, equipment, inventory, goodwill, contracts, leases, employees, intellectual property, client or patient records, and other business-related assets. Each transaction is different, and our office helps identify the documents and legal issues involved.
Do you prepare and review purchase agreements?
Yes. We assist with drafting, reviewing, and negotiating purchase agreements for business sales, professional practice sales, asset purchases, ownership transfers, and commercial real estate transactions. We help clients understand the terms, obligations, contingencies, deadlines, and potential risks before moving forward.
What is due diligence, and why is it important?
Due diligence is the review process that helps a buyer or seller better understand the business, property, contracts, liabilities, and risks involved in a transaction. This may include reviewing financial information, leases, contracts, entity documents, licensing issues, title matters, permits, employee matters, and other important records.
Do you assist with commercial lease review and negotiation?
Yes. We assist landlords, tenants, buyers, and sellers with commercial lease review, lease negotiations, amendments, extensions, assignments, and related lease documents. Commercial leases can create significant long-term obligations, so it is important to understand the terms before signing.
Can you help if I am buying a business but leasing the property?
Yes. In many business acquisitions, the buyer purchases the business but leases the real property from the property owner. Our office can assist with reviewing and negotiating the lease, lease assignment, new lease terms, purchase agreement, contingencies, and closing documents.
Do you assist with entity ownership transfers and buyouts?
Yes. We assist with ownership transfers, partner or member buyouts, shareholder transfers, membership interest transfers, internal business sales, and related documentation. This may include buy-sell agreements, assignment documents, corporate resolutions, operating agreement amendments, and settlement agreements.
Can you help form a corporation or LLC?
Yes. Our office assists with corporation and LLC formation, including entity formation documents, organizational documents, operating agreements, bylaws, ownership structure considerations, and related business startup matters.
Do you help with business licensing issues?
Yes. We can assist clients in identifying licensing considerations that may apply to their business, professional practice, or commercial transaction. Licensing requirements may vary depending on the type of business, location, profession, and ownership structure.
What contracts can your office draft or review?
Our office can assist with a variety of business and commercial real estate contracts, including purchase agreements, lease agreements, amendments, assignments, service agreements, independent contractor agreements, vendor agreements, settlement agreements, ownership transfer documents, and other transaction-related contracts.
What does succession planning mean for a business owner?
Succession planning helps a business owner prepare for the future transfer, sale, retirement, internal buyout, or continuation of the business. This may involve buy-sell agreements, ownership transition planning, entity documents, family succession planning, and business continuity considerations.
When should I contact an attorney during a business sale or acquisition?
It is best to involve an attorney early in the process, before signing a letter of intent, purchase agreement, lease, assignment, or other binding document. Early legal guidance can help identify risks, clarify deal terms, and avoid issues that may be more difficult to resolve later.
Can you help resolve disputes related to business or real estate contracts?
Yes. Our office assists with disputes involving business agreements, commercial leases, purchase agreements, breach of contract claims, ownership disputes, lease defaults, payment issues, and other transaction-related conflicts. We work with clients to evaluate options and pursue practical resolutions.
Do you provide full-service support from start to finish?
Yes. Our office provides legal and transactional support throughout the process, including reviewing the proposed transaction, negotiating terms, preparing documents, addressing due diligence issues, reviewing contracts, coordinating closing documents, and helping clients navigate the transition from start to finish.