Navigating the Legal Process of Buying a Small Business

Buying a small business involves much more than simply agreeing on a price. To explore the legal process of getting a deal across the finish line, Rick and Royce are joined in the studio by Jared Shwartz, a mergers and acquisitions attorney who specializes in smaller firms. Jared shares many lessons from his extensive experience representing both buyers and sellers, including how to choose an advisor with the right small business M&A background, what information belongs in a letter of intent, and why working capital can become one of the biggest sources of deal friction. They also discuss the importance of identifying potential obstacles early in the process, such as multiple owners, complicated corporate structures, third-party consents, and financing challenges; how to navigate negotiations without creating deal fatigue; and why maintaining a strong relationship with the seller can be critical even after a deal closes. Throughout the conversation, listeners will hear practical insights into managing risk, avoiding surprises, and using the legal process to increase the likelihood that a transaction gets done.