Looking for advice reg lawyers

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by a searcher from Arizona State University
in Charlotte, NC, USA

3yrs ago

Looking for advice reg lawyers

Hi! I am new to search and building my team.

My SBA lender (excellent!) shared/referred 4 lawyers with acquisition experience to interview. Any advice on what to look for and best questions to ask?

I appreciate the help.

2 Likes

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reply by a professional 3yrs ago
from University of California, Berkeley in Sacramento, CA, USA

Yea, union's unfunded liabilities is a huge risk. Doesn't that get disclosed in audited statements? I've seen a few and you can see whether they are funded or not in the notes.

Also, you can ask for any unfunded liability to be topped up as a part of the transaction so you're not saddled with the liability of the previous owner.

There are benefits to buying a union business. You can hire people from union hall much quicker and as soon as a job is over you can return them to the union. Also, being unionized is sometimes the only way to get access to some sweet jobs.

Pros and cons to everything!

reply by a professional 3yrs ago
from Walsh College of Accountancy and Business Administration in Detroit, MI, USA

In my opinion, the most important question to ask a business / transaction attorney is about how many transactions they do per year. You want a seasoned veteran that is closing 1-2 per month or more at a minimum. Young attorney is fine, as long as they have support from experienced attorneys behind them.