ContractsCounsel has assisted 324 clients with business purchase agreements and maintains a network of 175 business lawyers available daily. These lawyers collectively have 36 reviews to help you choose the best lawyer for your needs.
The average cost (i.e., legal fees) for a lawyer to draft a business purchase agreement is $990 [1] on a flat fee basis. The average cost for a lawyer to review a business purchase agreement is $1010 [2] on a flat fee basis. These cost points come from recent projects on the ContractsCounsel platform and are averages from across all US states.
Based on 70 recent projects completed by lawyers on ContractsCounsel.
Last updated: 15 August, 2024
Create Business Purchase Agreement Review Business Purchase AgreementA business purchase agreement, sometimes called a business transfer agreement or a buy-sell agreement is a legal contract that transfers the ownership of a business from a seller to a buyer. This essential document should be used during any business purchase transaction because it lays out the deal's terms and conditions.
A business purchase agreement is used for various businesses, including brick and mortar retail stores, professional services, restaurants, or online companies. In addition to facilitating a sale, a business purchase agreement also serves to establish a fair market valuation of the company and its assets and liabilities.
Getting help from a business lawyer to draft a business purchase agreement is highly encouraged because this contract outlines essential information about the transfer of ownership of the business from the seller to a buyer. However, suppose the contract is poorly written or doesn’t contain all the necessary terms. In that case, both parties are at risk for financial damages and contract breaches.
Business purchase agreements will differ based on the type of business and the terms established by the seller and the buyer. These contracts are highly customizable but will include some basic clauses.
Clauses that you will mostly find in a business purchase agreement include:
Suppose a buyer and seller choose to hire an attorney to draft a business purchase agreement to transfer ownership of a business. In that case, someone will have to pay the attorney.
There is no steadfast rule on paying for the business purchase agreement. Payment terms can be negotiated between the parties. However, the business purchase agreement should detail which party will be paying the legal fees.
Business purchase agreements can be very complicated. Therefore, it is recommended that you consult with an experienced attorney to ensure your agreement is legally binding and contains all necessary clauses.
There are several business purchase agreements like stock purchase agreements and asset transfer agreements. A lawyer can help you determine which type of agreement you need for your business sale.
Business purchase agreement drafting typically involves a consultation with the buyer and seller to learn about the terms they want to include in the agreement. Then implement them into a business purchase agreement template to ensure it has everything the parties need.
Suppose you choose to draft your own business purchase agreement. In that case, it is a good idea to have a lawyer review it before using it for a transaction. The laws regarding business purchases will vary in states. If you aren’t familiar with your state’s laws, a lawyer can guide you through the sale process.
Meet some lawyers on our platformIf you hire a lawyer to draft a business purchase agreement, it will come with costs because the lawyer will charge for their time and legal expertise to complete the project.
ContractsCounsel’s marketplace data shows the average business purchase agreement drafting costs to be $990 across all states and industries.
If you choose to draft your own agreement and have a lawyer review the contract, you will still incur legal fees, but they will typically be less. In addition, reviewing a document should take less time and work than drafting a document from scratch.
ContractsCounsel’s marketplace data shows that the average business purchase agreement review costs $1010 across all states and industries.
Business lawyers can charge for services in various ways. Depending on the type and complexity of the project, lawyers will typically use an hourly rate fee schedule or a flat fee rate.
Many business lawyers bill their time using an hourly rate fee structure. This means the lawyer will provide an hourly rate to be approved by the client and log time in a timesheet. Then, the lawyer will bill the client at the end of the project or case. This is typically the safest way for the lawyer to charge clients because they are covered if the case takes longer than initially estimated.
ContractsCounsel’s marketplace data shows the average hourly rate for a business lawyer ranges from $250 - $350 per hour.
Flat fee billing structures are becoming more popular for contract drafting projects like a business purchase agreement. Lawyers will provide the client with a flat fee quote for legal services in this fee structure. The benefit of flat fee billing is that it gives certainty to the client on the project's total cost. However, it is important to ensure the client knows what’s included with the fee before starting the project, as it may not involve rounds of revisions.
ContractsCounsel’s marketplace data shows that the average flat fee rate for business purchase agreement costs $1000.
Do you need help with a business purchase agreement project? If so, post a project in ContractsCounsel’s marketplace to receive flat fee bids from business lawyers to handle your project. All lawyers on the ContractsCounsel’s platform are vetted by our team to make sure you are provided with top tier service.
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
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Cassandra Way CC customerMy legal practice is focused on business transactions like general corporate matters, fundraising, technology contract negotiation, blockchain, crypto or token analysis, and others. I hope to be a good asset to you and looking forward to finding out how I can be of help!
Small Business Attorney licensed in Texas and Colorado. Based in Dallas, appointments available in DFW area.
Advised startups and established corporations on a wide range of commercial and corporate matters, including VC funding, technology law, and M&A. Commercial and Corporate Matters • Advised companies on commercial and corporate matters and drafted corporate documents and commercial agreements—including but not limited to —Convertible Note, SAFE, Promissory Note, Terms and Conditions, SaaS Agreement, Employment Agreement, Contractor Agreement, Joint Venture Agreement, Stock Purchase Agreement, Asset Purchase Agreement, Shareholders Agreement, Partnership Agreement, Franchise Agreement, License Agreement, and Financing Agreement. • Drafted and revised internal regulations of joint venture companies (board of directors, employment, office organization, discretional duty, internal control, accounting, fund management, etc.) • Advised JVs on corporate structuring and other legal matters • Advised startups on VC funding Employment Matters • Drafted a wide range of employment agreements, including dental associate agreements, physician employment agreements, startup employment agreements, and executive employment agreements. • Advised clients on complex employment law matters and drafted employment agreements, dispute settlement agreements, and severance agreements. General Counsel • As outside general counsel, I advised startups on ICOs, securities law, business licenses, regulatory compliance, and other commercial and corporate matters. • Drafted or analyzed coin or token sale agreements for global ICOs. • Assisted clients with corporate formations, including filing incorporation documents and foreign corporation registrations, drafting operating and partnership agreements, and creating articles of incorporation and bylaws. Dispute Resolution • Conducted legal research, and document review, and drafted pleadings, motions, and other trial documents. • Advised the client on strategic approaches to discovery proceedings and settlement negotiation. • Advised clients on employment dispute settlements.