Legal Question in Business Law in California

Re: Selling a medical practice

You're joking, right? Everyone involved should retain an attorney. Don't you realize how many risks are in play here?

Re: Selling a medical practice

The radio commercial-hype says that canned forms are just as good as getting proper professional advice. Don't believe it. Would you advise your patients to buy a do-it-yourself home surgery kit, or to diagnose their hypertension using the machine at the drugstore? We get lots of questions here, after the fact, from people who used form contracts and wound up getting burned.

Please don't become one of those people. Read some articles from Medical Economics magazine, or their website. Ask your colleagues for a referral to a lawyer who specializes in medical practice buy-sell agreements.

Re: Selling a medical practice

You need to have a lawyer represent you, whether you are the buyer or the seller. The other doctor needs another lawyer. Don't even think about trying to do this without counsel.

Re: Selling a medical practice

Are you serious? Do you tell prospective patients they should diagnose, treat and operate on themselves, or do you confirm they are right in coming to a trained professional? With the issues of malpractice tail, general and personal liability, debts, taxes, assets, good will, records, books, audits, representations, warranties, non-compete, etc, etc, this should be critically and professionally done. Anything less and you are sure to end up in a lawsuit, spending many times more in fees 'deciding what the parties meant and intended' than if you do it correctly now. You may get sued anyway, there are no guarantees in life. Feel free to contact me for legal help if you get realistic about doing business correctly.