Legal Question in Business Law in California

Re: law regarding a public company buying the assets of an LLC

I would concur with Mr. Hoffman. The relatively small amount you would pay an attorney to assist you in this transaction will help you avoid paying another attorney down the road far more to "fix" the problem when things go south.

Re: law regarding a public company buying the assets of an LLC

You protect yourself and your company by having thorough contracts of sale that do so. Your question implies that you do not understand the legal documents, issues and details required. You should consider hiring experienced counsel to represent you in this sale; the cost would be far less than having a problem later. Contact me if interested in doing so.

Re: law regarding a public company buying the assets of an LLC

The subject is too broad to be discussed in a forum like this. Obviously, your ultimate goal is to get paid and insulate yourself from any liability for how they run the LLC after you have completed the transaction. You also need to make sure you get paid.

I would recommend two things: (1) having a written sales agreement that including provisions for compliance with California bulk sale notice laws; and (2) using an escrow company. Feel free to contact my office if you desire a consultation.

Re: law regarding a public company buying the assets of an LLC

You should have an attorney either draft or review the sales agreement between yourself and the other entity at issue. A third party escrow agent should also be used to effectuate the sale. For a free phone consultation, contact us directly.

Re: law regarding a public company buying the assets of an LLC

Most of the legal burden will fall on the buyer's shoulders and not yours. But given the amount of money at stake and the intricate nature of securities law, you should hire an attorney with substantial experience in such transactions. Don't try to do this on your own, as there are many potential pitfalls ahead which a securities lawyer will recognize but which you almost certainly won't.