Michigan Due Diligence Attorney
Black's Law Dictionary defines 'Due Diligence' as: Such a measure of prudence, activity, or assiduity, as is properly to be expected from, and ordinarily exercised by, a reasonable and prudent man under the particular circumstances; not measured by any absolute standard, but depending on the relative facts of the special case.
While this might be a very good legal definition, it does not mean a lot to someone that is buying a business. Due diligence is really just a buyer's opportunity to investigate and look into the business they are buying. Most of this information is disclosed by the seller but generally there is a lot of information.
Buying a Business
In mergers and acquisitions, or M&A, there are no disclosure rules. There are no statutes or regulations that state that a seller has to divulge certain facts or data to a potential buyer. As a buyer that means you have to know what to ask for, what to look for and then determine what all that information means. This can be extremely intimidating if you are not familiar with this process. The Business Law Group has advised dozens of clients in these types of transactions. We know what you need to see and we know how to advise you what is discovered.
Selling a Business
As a seller, it can seem intrusive to have someone requesting that you disclose information about your business. Having to turn over documentation on financial data, inventory, contracts, employee benefits, etc. can
be more than just overwhelming. Knowing what information the buyer is looking for, why they want it and how to present that information can mean the difference between the transaction going smoothly or the deal potentially falling apart. The M&A attorneys at The Business Law Group can guide sellers through this process. We know what information is important and why a buyer needs it. We explain everything to our clients so they are comfortable with the process. Our expert lawyers can also spot potential red flags and get out ahead of them with creative solutions so these issues do not cause bigger problems.
Whether you are buying a business, selling a business, working with a business broker, or thinking about merging with another business, due diligence is important. And it does need to be as confusing as the Black's Law definition. The Business Law Group wants you to be fully informed on what your Michigan business is doing.
If you own a Grand Rapids business or a Michigan business, contact The Business Law Group today for a free consultation. We can take the burden off your shoulders and make sure your merger or acquisition goes as you plan it to. Click HERE to send us an email or call us at 616-528-0007.
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