Of all of the things that you may rely on a corporate lawyer for, pursuing an acquisition is one of the most important. If you have decided that it's time to grow your business, and you're looking into acquisition prospects, it's important that you know the things that you need to consider. Here's a look at some of the things that you need to discuss with your corporate lawyer before you sign any kind of acquisition contract.

Are There Federal Implications?

One of the first things that you need to determine is if there are any federal legal implications to your acquisition. This can include monopoly law issues, tax implications, and more. Take some time to discuss any potential concerns with your lawyer to be sure that all of the necessary regulations are adhered to before you pursue any acquisition.

Is The Valuation Appropriate?

Before pursuing an acquisition, you need to conduct a comprehensive valuation of the prospective business. It's in your best interest to have a corporate lawyer help you with this process to ensure that the information is accurate and comprehensive.

For example, your corporate lawyer can review all of the details provided by the business, including financial reports, articles of incorporation, forecasts, and more. Then, they will often retain the services of a forensic accountant if there are any questions about the details.

Make sure that the valuation is reasonable before you pursue any kind of acquisition. This ensures that you are getting what you pay for. 

Is The Contract Legal?

Once you have settled on a business that you wish to acquire, you've addressed any potential federal implications, and you're certain that the valuation is accurate and reasonable, you'll draft the acquisition contract. Before you present this contract to the business in question, it's in your best interest to talk with your corporate lawyer.

Have your lawyer review the contract to ensure that it is legally enforceable and legitimate. Without legal training, you can inadvertently include clauses and requirements that may not be within the confines of corporate law. You can save yourself the risk of the contract being held null and void with this brief review.

If you're considering an acquisition, you should reach out to a corporate lawyer right away. A corporate lawyer can help you answer all of these questions and more along the way as you expand your business through your first acquisition.