Christian CPA: The Business Valuation Series
How to Prepare and Understand a Business Valuation
This is the third of a three part series to help you understand and begin to address several of the basic issues facing a the proposed purchase of a business. This recap will be that you want to refer to often to ensure that before you buy a business that you are both well informed and well-armed.
Intellectual Property and Non-Compete Agreements
Having all the best equipment, the latest technology, a well-trained and efficient staff, and in a good economy are all indicators that positively impact the overall value of a business. However, just as a business is able to place locks on its doors and incentives to its employees, a business also needs to do what it can to protect its business interests. A business invests thousands of dollars and often years in the specialized techniques and skill set critical to a business operation and its success. Accordingly it is wise to consider having key staff sign a non-compete agreement restricting their ability to steal your clients and employees.
Due care and consideration is of the utmost at this time to ensure that you have a well drafted agreement which will be legally enforceable as many states, Georgia included, will not enforce any of a non-compete if it is deemed to be too broad or restrictive in scope. As such you will want to be sure to retain the services of an attorney who is familiar with these statutes and particularly those of the states in which you business operates/the agreement would be enforced.
Also a business with intellectual property such as patents, copyrights, and other specialized procedures will want to be sure to both formally and legally protect their interests. Often this process might also result in an individual/company being asked to sign a non-disclosure agreement to protect the ideas and processes of a company.
By skill and wisdom to business techniques, processes, and overall business strategy we are well placed to help you make what may well be the largest financial decision you will ever reach. Be sure you contact us today for a free initial CPA consultation. Also working with a good business broker as your buyers representative and a good attorney will do much to make efficient use of your time and to ensure a smoother buying experience.
How His CPA Became a Christian CPA Firm
http://www.youtube.com/watch?v=mdh7DaSwnX0
Atlanta CPA on IRS Installment Plans
http://www.youtube.com/watch?v=nvz4y1Ld4vE
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