Boutique law firm representing business searchers, sponsors, funds and operators nationwide. Shortlisted for Financial Times Innovative Lawyers N. America 2025.
The deal closed.
The wire cleared.
The buyer had the keys.
And then the seller started trying to destroy the business.
That sounds dramatic, but I’ve seen versions of this happen more than once.
One client bought a business and, three months after closing, got a call from an
A seller who walks away with the relationships, the know-how, and the freedom to compete can quietly undo everything you just paid for.
@SMB_Attorney and @KHendersonCo explain why a well-drafted non-compete is the difference between owning a business and renting its current
A seller who walks away with the relationships, the know-how, and the freedom to compete can quietly undo everything you just paid for.
@SMB_Attorney and @KHendersonCo explain why a well-drafted non-compete is the difference between owning a business and renting its current
Every other Thursday, the SMB Law Group team hosts free, live Office Hours to work through them with searchers and buyers.
You'll have Founding Partners @SMB_Attorney and @KHendersonCo , and Partner @ParsleyETA in the room, the same people who've closed hundreds of deals.
The deal isn't done until it's done right.
Our transaction checklist has 120+ items. These six are where most deals stall, and where having the right legal team pays for itself.
If you're buying or selling a business, start here 👉 @smblawgroup
Buying a business as a married couple changes the equation. Management depth, operator readiness, and understanding the financials matter a lot more when one spouse is stepping in to run the company full time.
Watch the full episode here:
Youtube: youtu.be/0IIrHzoUfms?si…
The SBA just clarified its crackdown on small-business investors, and it's narrower than people feared. One default no longer shuts you out automatically.
Our partner Eric Pacifici (@SMB_Attorney) on what it means, via @Forbes 👇
forbes.com/sites/johnschr…
Free, live legal Q&A for business owners. Bring your questions on contracts, employment, or governance and our Fractional General Counsel Evan Thomson (@EvanThomson01) will work through them with you.
Register here: events.zoom.us/ev/Apr35jQaMEP…
Two things to note: the SBA hasn't said how many waivers it will approve, and the guidance expires June 1, 2027. Our partner Eric Pacifici (@SMB_Attorney) discussed the details with Forbes 👇
To qualify for a waiver, an investor must clear three criteria: → No stake above 20% in a business that defaulted on a federal loan → Never a guarantor or co-borrower on a defaulted government loan → Never held control of a business that defaulted Meet all three, and the SBA
Previously, an investor on a company's cap table who had backed a separate business that defaulted, even passively, could disqualify a new SBA loan. The new guidance narrows that and introduces a case-by-case waiver process.