Understanding the legal issues of buying a business is key to making sure you don’t get burned. You and your advisors will need to investigate:
- Are there any law suits outstanding?
- What Occupational Health and Safety, W.C.B., environmental and other regulatory requirements must be met and are they currently being met?
- Are all other registration requirements and regulations being met?
- Are all local zoning requirements being met?
- Review the articles of incorporation, minute books, by-laws, and/or partnership agreements.
- Is the business a franchise? If so, review the franchise agreement. Understand your obligations and rights.
Need more information? Call us at 204-478-7266, ext. 110. or click https://www.bealbusinessbrokers.ca/buying-a-business/ to download our free e-book on buying a business.