Should I Retain an Attorney When Buying a Business?

A business-savvy attorney should be on your team for all but the smallest business acquisitions. A lawyer can represent you or just act as your coach. He or she can act as an escrow agent or recommend a company to handle the exchange of money for the enterprise you're acquiring. He or she can also suss out hidden liabilities you might not be aware of, such as uncollectable accounts receivable or defective inventory.