by Ruiz Doolan Law Firm | Mar 6, 2015 | Business Law
Joint Venture Agreements in New Jersey: Ruiz Doolan Law Firm Business Lawyers.
Getting into Business with a Friend? You may need a Joint Venture Agreement.
I) What is a Joint Venture Agreement?
A joint venture agreement is a contract made between two or more individuals or companies to be in a joint venture. People who create a joint venture agreement want to collaborate on a project while remaining independent. For example: Company A and Company B want to enter in a joint venture agreement for the specific purpose of building houses.
II) Consideration and Planning for A Joint Venture Agreement:
When planning to enter a joint venture agreement there are a few factors to consider:
1) The Form of the Joint Venture: Will the joint venture be in the form of a partnership, LLC. or a contract between companies.
2) Scope of Business
3) Ownership and Control
4) Dissolution
5) Assets
6) Governance
7) Management
8) Budgets
9) Disputes
10) Taxes
11) Financing
12) Breaches
13) Debt
14) Transfers
Without a properly drafted joint venture agreement the parties can be severely under-protected both as to their rights and as to their asset protection
For more information about Joint Venture Agreements in New Jersey call Ruiz Doolan Law Firm at (201) 880-5563. Mention this blog for a free initial consultation.
by Ruiz Doolan Law Firm | Jun 12, 2014 | Business Law
Buying an Existing Business
by Fabiola Ruiz-Doolan, Esq.
For some entrepreneurs buying an existing business can be a less risky proposition. There are many good aspects to buying an existing business such as reduction in start up costs and inventory. There are also some downsides like business debt and issues with current employees and management, in addition purchasing cost may be much higher than the cost of starting a new business. This is why doing your due diligence before buying an existing business is very important.
Once you have found a business that interests you, it is important that you do your research. How much is the business worth? We always recommend our clients to get a professional to make that determination. Other examples of issues to consider are contract and leases, financial statements, property documents, customer lists, sales records, advertising materials, employee and manager information and contracts. You should also review the business tax return so you can assess profitability and tax liability.
Buying an existing business is not an easy task it is always recommended to get professional help of an attorney to review the legal and organizational documents of the business. In addition an accountant can help with a thorough evaluation of the financial condition of the business.
For more information about Buying an existing business in nj please contact our office at 201-880-5563 or visit us at www.ruizdoolanlaw.com for a consultation
