Buying A Business

Do we want to make sure the managers ability is only limited to managing day to day activities and material decisions require a certain percentage of the partners to agree? For example, a company loan, major purchases, hiring executive level employees, moving locations etc…

Also, what tax implications need to be considered. Often times, certain structures may be more beneficial to some than to others. Everyones situation varies and the attorney needs to analyze the objectives of the partners coupled with the nature of the business. An attorney will work with your CPA and have an appreciation for the tax implications and not only determine the most advantageous structure from a  legal standpoint but also from a tax standpoint.  All too often missed opportunities exist based on the structure of a deal.