Acquire a Business

Entrepreneurship Through Acquisition: Review of Buy Then Build by Walker Deibel

Buy an existing business and grow it, rather than starting a business from scratch. That's the idea of "entrepreneurship through acquisition" or "ETA"

Knowing which type of entrepreneur you are is one of the first steps to identifying the types of legal issues you will encounter in your business.

Most small business deals are AS IS. But even then, a buyer should try to get the seller to make the following limited reps and warranties in the purchase agreement:

1) You will pay more than the purchase price. 2) It will be difficult to find money for your deal . 3) You will need a lot of legal documents. 4) It will take longer than you think.

When you are evaluating a lawyer for help with your deal, ask about estimated fees so that you can include that estimate in your cost of doing the deal.