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Buying or Selling a Business in Ontario?

When
09 Nov 2021
08:00 - 09:00 (EST)
Location
Online

Buying or Selling a Business in Ontario?

Don’t Forget About the Employees

During any business acquisition, lawyers routinely advise clients on the relevant legal, tax, and business considerations. However, too often this advice excludes timely, comprehensive thought about the employees affected by the transaction. This oversight can be costly.

Early in any negotiation, vendors and purchasers need to be aware of the costs of employee entitlements and which party will be responsible for those costs. Such costs may include termination pay and severance. However, calculating these costs and how they may be borne by the vendor or purchaser can depend on complicated interactions between statute, contract, and common law. In addition, there are other liabilities that may be more costly to the transaction—or even fatal—such as whether key employees are bound by enforceable non-solicitation and non-competition clauses. No one wants to buy a business (or sell one subject to a large performance-related holdback) only to have all the key employees quit, solicit the business’ customers, and start a competing business.

In this series, NCCC member Houser Henry & Syron LLP, will review critical considerations and employment law related risks and liabilities that arise in the context of buying or selling a business. Part 1 of this series focuses on asset transactions.

Download the Full Article HERE

UPCOMING WEBINAR

Topic: Buying or Selling a Business? Don't Forget About the Employees
Date: November 9, 2021
Time: 8:00 AM – 9:00 AM EST
Virtual: Calendar invite to follow upon RSVP

Guest Speaker:
Justin Anisman; Brauti Thorning
William McLennan; Brauti Thorning
Alexander Levy; Houser Henry & Syron

Click Here To RSVP

If you have any questions related to this topic, please submit them to Lisa Hegedus at lhegedus@houserhenry.com.