The purchase, sale or merger of a business can be a very important and exciting time for both the buyer and the seller, as it is full of possibility and the opportunity for profit. However, it is essential that proper care and attention be paid to the legal aspects of the business transaction.
Buying or selling a commercial operation can be a complicated and multifaceted matter for any business, regardless of their size. When selling a business, concerns can be raised regarding the limiting of future liability and securing payment of the purchase price on the part of the vendor.
Several matters have to be considered throughout the sale or purchase of a business. Our lawyers can provide guidance concerning liabilities to employees both new and existing. Regardless of whether it is a purchase or sale of assets or a purchase or sale of shares, Zeilikman Law can help provide guidance throughout the entire process on issues relating specifically to the workplace or any disputes or litigation arising therefrom.
Purchase, sales or mergers of a company can have implications in the area of employment law. There are implications for both unionized and non-unionized employees.
Many standards and requirements have to be followed under the Employment Standards Act when a purchaser decides to close one of the vendor’s acquired establishments and/or perform a mass termination. It is critical to abide by these standards and requirements, to avoid possible litigation.
For unionized employees, the purchaser is bound by the obligations and rights under both the Labour Relations Act and the collective agreement.
How can Zeilikman Law help?
Our experienced lawyers are dedicated to protecting your interests during the purchase, sale or merger of your business and ensure that the transaction goes well. We will provide strategic and legal advice throughout the process, as we understand the challenges, which you may face, and the factors that need to be considered to protect your interests in the long run.
At Zeilikman Law, we approach these issues with logical and creative solutions. Our lawyers are professional, friendly, and determined. We have the know-how to navigate through the psychology of any given dispute.
Request a consultation today!