lawyer

Mountain Top quote: There’s all kinds of jails alvin July 29, 2019 - 9:01am

Mike (Pastor/Lawyer): Why’d you want to see me?

Sam (Prisoner): Papa told me you were a spiritual man, and that we need to help each other.

Mike: Help each other? Well ... you’re the one in jail.

Sam: [laughs] Well, there’s all kinds of jails. One of the worst is the prison of wrong thoughts. I was locked up there for many years until I found the key and opened the door.

(from the movie Mountain Top)

This is a page from my book, “A Survival Guide for New Consultants”

It takes a team

“Things derive their being and nature by mutual dependence,
and are nothing in themselves.”

Nagarjuna

I mentioned earlier that when you’re building a business, you should hire well, and this is true across every aspect of your business. A “secret” that I stumbled onto when I started Mission Data is that you have to be strong everywhere: Marketing, sales, accounting, the service you provide, and you even need to have a good lawyer.

This is a page from my book, “How I Sold My Business: A Personal Diary”

Sunday, November 6, 2005

Three days have passed without any discussion about buying and selling the business, and George and David wrote again today to see what I was thinking. I wrote them that I couldn't think of anything else to do other than talk to some potential outside buyers. I told them I didn't have to sell all my shares to an outside buyer, but from what I've heard from our business broker and my lawyers, they would almost certainly want controlling interest in the company (and oh by the way guys, I was trying to sell that controlling interest to you).

This is a page from my book, “How I Sold My Business: A Personal Diary”

Wednesday, October 12, 2005

George and David have made remarkably little progress on their business offer since our last meeting. They won't be seeing their new business lawyer until tomorrow, but since I'm leaving on vacation Friday night they wanted to see if I could meet late this afternoon. I agreed, not knowing why they wanted to meet.

This is a page from my book, “How I Sold My Business: A Personal Diary”

Friday, October 7, 2005

I called my lawyer today to talk about a couple of things related to the business sale, and specifically mentioned the partners wanting to pay me 50% up front and 50% from the business revenue (an "earnout"). He repeated what he said earlier, and said I should absolutely not take that offer. He didn't give me any specific examples I can remember, but he said there are too many ways for people to wiggle out of deals like that, and all the money should come up front.

This is a page from my book, “How I Sold My Business: A Personal Diary”

Friday, September 16, 2005

David, George, and I met with the two business lawyers they suggested, and we choose the second one, a woman named Pam who worked at a mid-size law firm. Like the other good lawyers I had come to know recently, she spoke directly, and without any extra legal-ease. (A good reminder to me as a consultant.) She would have preferred to meet Jack as well, she said, but she's seen situations like this before, and understood. David and George chipped in that they had Jack's promise that he would go along with whatever we decided, which was interesting to hear.

This is a page from my book, “How I Sold My Business: A Personal Diary”

Friday, September 9, 2005

I gave the information from my tax attorney to my primary attorney (Joe), and he joked about how it sure was a wonderful suggestion of his to talk to a tax attorney, wasn't it? I agreed with him, it was, and Dan (the tax lawyer) was as sharp as they come.

We talked about how to include this in my offer letter to the Class A partners, but Joe suggested not mentioning it at all. Now that we knew this, he said, let's keep it under our belts, and pull it out later, after we get some of the business partners to agree to buy my shares.