Civil and administrative law attorney, Susan Napolitano, was recently featured in Strictly Business’s article titled “Buying & Selling a Business in Lincoln, NE”.
The article detailed some key tips to know when going through the tedious process of starting or buying a business. Among the professionals featured in the article, Ms. Napolitano laid out the legal aspects of the process and why having legal representation is a key factor in successful business acquisitions. “It can be helpful when the seller’s attorney understands the seller’s day-to-day business, but it is imperative that the seller’s attorney understands the unique legal aspects of the seller’s business transition. I don’t need to know how to perform a root canal to sell a dental practice, but I better know the federal and state laws that govern the transfer of medical records.”
She also offered some words of warning for potential entrepreneurs, “beware of unqualified ‘consultants’ who want to broker the sale of your business. They feed on your fear of lawyer fees; they play up their knowledge of your industry to gain your trust, then they take 8-10% of your purchase price for themselves.” She also cautioned potential changes in the market due to the high rate of Baby Boomers going into retirement and how this has the potential to create “a temporary bath of market chaos”.
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Outside of her work with business owners, Susan is a seasoned real estate, transactional, and estate planning attorney dedicated to helping her clients safeguard their assets. Prior to joining Berry Law, she served on the General Counsel for an established international health care consulting firm.