What is the first step when two or more persons or businesses desire to work together to commercialize a new business idea?

The first step in any joint business venture is for one or more of the parties to meet with an experienced business attorney and a good CPA to consider the multiple options available for the enterprise. This should be done even before the parties attempt to draft a letter of intent. There are many legal, tax and accounting issues to consider at a preliminary level first.

Thereafter, the parties should do their best to outline the key business terms on their own before returning to consult with their attorney(s) for the preparation of a formal letter of intent or term sheet. Our firm can assist you with the preliminary discussions about the new business idea and with the preparation of a formal letter of intent or term sheet.

Frequently Asked Questions

What is the first step in buying or selling a business?

The first step in buying or selling a business is for the buyer and seller to agree upon the important business terms of the acquisition. This agreement is usually set forth in a letter of intent that is signed by both parties. Our firm can assist.
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What is the best course of action when a business relationship is not going well?

When a business relationship is not going well, whether it is a relationship with an employee, consultant, vendor, customer, licensee/licensor, lender or co-owner, it is likely that the agreement underlying the relationship does not adequately add.
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What is the first step in filing a trademark?

The first step in filing a trademark is to perform a search to determine whether other businesses may already be using the same trademark or a similar trademark. Our firm can assist you in performing such a search and in analyzing the search resul.
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Representative Projects

Starting and Investing in Business

Establishing multiple interrelated companies in a multi-tiered franchise development business
Drafting, negotiating and closing an asset purchase agreement to acquire a business for a buyer in the building construction and design industry
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Protecting Business Interests

Drafting and negotiating non-competition and non-disclosure agreements for consultants
Searching, preparing, filing and prosecuting trademark applications for media technology companies, authors, entrepreneurs and others
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Increasing Business Revenue

Negotiating product supply and distribution agreements for consumer product and technology companies
Drafting and negotiating patent license agreements
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Decreasing Business Overhead

Negotiating a licensor's termination of a license agreement for marketing and selling consumer products
Dissolving a group of affiliated companies in the healthcare products industry
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