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When a client is selling a business, the following is a general checklist of the relevant business documents the client’s attorney will need:
  1. Copies of the company's incorporation, partnership, or limited liability company documents.
  2. A list of owners/stockholders, percentage of ownership/stock, and the total amount of ownership/stock outstanding.
  3. A list of the names and titles of the persons authorized to sign documents for the company (Officers, Directors, LLC Managers/Members, Partners).
  4. Copies of business registrations, licenses, and permits.
  5. A list of employees.
  6. Copies of all written employment contracts.
  7. Copies of company's liability, property and life insurance policies, including “key person” life insurance policies.
  8. The company's current financial statements, including its balance sheets, profit and loss statements, cash flow statements, and projections.
  9. Copies of the company's federal and state tax returns for the last three years.
  10. Copies of outstanding state or federal tax claims, audits, or actions.
  11. A list of the company's bank and investment accounts.
  12. A schedule of the company's assets.
  13. Copies of all leases for vehicles, equipment, computers, telephones, etc.
  14. Copies of the company's real property lease(s).
  15. The legal description/address of any real property owned by the company.
  16. Copies of all outstanding contracts.
  17. Copies of all notes, mortgages, security agreements, loan agreements and UCC financing statements.
  18. A list of creditors.
Copies of all pending lawsuits against the company.


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