On behalf of Sparkman Law Firm posted in Business Law on Wednesday, December 12th, 2017.
Considering A Corporate Merger? Here’s What You Need To Know
The prospect of a merger can be an exciting time in your company, but it’s also important to remember that having a lawyer who knows the landscape can help you avoid many of the most common problems. When you know what to do and how to proceed with a merger properly, you can ensure you have a solid future ahead of you and minimize the risk of problems with this transaction. Read on to learn more about corporate mergers and how a lawyer is vital to managing one.
Complex Corporate Transactions
There are many different reasons why it makes sense to hire an experienced Florida business attorney. Handling any type of complex business transaction means that it makes sense to hire a lawyer who has extensive experience in this field. There are many different complicating details and unique legal facets of business transactions and the right lawyer can make a big difference in avoiding serious problems. Like the majority of corporate law, mergers are regulated at the state level in Florida.
Corporate Mergers: Laws Vary By State
These laws will vary from one state to another, but many other aspects of the merger process are similar throughout the nation and all people interested in a merger can benefit from talking directly with a business attorney. The board of directors for each entity will initially need to approve a resolution adopting a plan of merger that specifies the name of the merged company, the manner of converting shares applied to both parties, legal provisions to which the corporations have already agreed, and the specific names of the entities involved.
Responsibilities Of Each Entity
Each entity will also have the responsibility of notifying shareholders that a meeting is being held to approve the merger. If the appropriate number of shareholders approves this plan, the directors will then sign the papers and file them directly with Florida. The secretary of state will then issue a certificate of merger. This can be a complicating process that requires careful insight from an experienced attorney.
With so many factors that could apply, it is in your best interests to retain a Florida business attorney who can help you.