Attorneys Guide Utah Business Owners Through Sales and Acquisitions

Serving companies in Provo and statewide for 70 years

A mistake made during a business sale or acquisition can derail the deal. From the moment you start thinking about a transaction, you should consult with a knowledgeable attorney. At Jeffs & Jeffs, P.C. in Provo, we have steered Utah companies successfully through purchases and sales for seven decades. We offer insight tailored to your particular situation and industry so you can capitalize on business opportunities with confidence. 

What are the different structures for business acquisitions and sales?

Each commercial transaction is unique but usually falls into one of the following structures: 

• Asset acquisition — One company buys some or all of another company’s assets. Specific items in the deal might include equipment, real estate, inventory and intellectual property. Purchasers might opt for this structure because it spares them from taking on the liabilities and obligations of the seller business.
• Stock purchase — The buying company takes ownership of another business, including assets and debts. This arrangement might provide a tax advantage and can preserve current contractual arrangements. 
• Merger — Sometimes, businesses decide that they will be better off together, so they work out a merger, possibly with cash or other assets going from one owner to the other. Once the transaction is completed, the companies typically become a single legal entity.

Our accomplished attorneys outline options for buyers and sellers so that they can identify the structure that best suits their needs. 

Why is due diligence so important during a Utah business sale or acquisition?

Due diligence is a critical phase of a business sale during which the parties review information about each other to assess whether they want to go ahead with the deal and on what terms. We handle a wide range of tasks during this process, including reviewing existing contracts and agreements, verifying financial representations, analyzing what legal risks exist and consulting with experts when appropriate. Whether your transaction is relatively straightforward or highly intricate, you can rely on us to spot potential concerns before you finalize the acquisition or sale. 

What is the role of a purchase agreement when buying or selling a business?

The purchase agreement is the governing document of a business transaction. It must clearly identify the parties, the assets to be transferred or merged and the consideration going from the buyer to the seller. Our attorneys thoroughly review the circumstances and draft a clear, comprehensive purchase agreement that spells out each side’s rights and responsibilities. We also review agreements created by other parties and negotiate language concerning contingencies that might arise. 

What challenges can delay or derail business sales and acquisitions?

Uncertainty over transaction details and outside factors such as economic downturns can drag out the process or cause the deal to collapse. Skillful legal guidance helps businesses avoid unnecessary delays and ensures that each side has a complete understanding of the terms being negotiated. By identifying possible sticking points ahead of time, our firm helps avert last-minute conflicts that can stop a sale or acquisition in its tracks. 

How long does it take to buy or sell a business in Provo?

How long the purchase or sale of business takes depends on a range of factors, including the complexity of the deal, the value of assets being transferred and the critical information that needs to be verified. Our firm concentrates on closing transactions expediently after conducting comprehensive due diligence and guiding clients away from unfavorable terms. 

Contact a skillful Utah attorney about your business sale or acquisition

Jeffs & Jeffs, P.C. advises Utah companies on sales, acquisitions and mergers. To schedule a consultation, please call 801-373-8848 or contact us online. Our office is located two blocks from the Provo courthouse and one block from the Latter-Day Saints Historic Provo Temple.