April 2022 - Volume 10, Issue 41
As spring is in the air it reminds us of all kinds of great things, The Masters Golf Tournament, outdoor soccer, fly-fishing, and of course everyone’s favorite topic: Is it time for me to sell my business!

As a business owner, you have worked hard and made many sacrifices to build your company. Whether it’s been 5 years or 35 years, owning and running a successful business is extremely challenging. I work with entrepreneurs every day and I have the utmost respect for them as they take on massive risks and responsibilities with tenacity and focus. It is not for the faint of heart.

If, as with most of my clients, you think you would like to sell your business someday, there are steps you can take to not only maximize the value of the sale, but also to make the transaction more efficient, less expensive, and more likely to close. The two best words to any entrepreneur are “Exit Event”, but you have to make it worthwhile. You are only going to sell your business once and this is your chance to unlock the value you have built over the years. I have included below four helpful pointers to consider before you make this important decision. Please click each hyperlink to read more.

1.    Figure out your goals – why are you selling? Is it strictly financial? If so, do you have a specific dollar amount in mind that will be acceptable? To read more on point one click here.
2.    Seek advice and support from professionals – while utilizing professionals costs money, it will be worth it. To read more on point two click here.
3.    Get your house in order. Interested buyers are going to want to look under the hood and into every corner and crevice of your business. And believe me, you will be surprised with the volume of requests. To read more on point three click here.
4.    Identify your internal team. If you are going to sell your business, it is going to be a process and will take some time. And remember you have to keep running it while you try to sell it!  To read more on point four click here.

I hope the above tips are helpful. While every business is unique and every situation is different, I believe these apply with respect to any potential sale. So as you are checking off your springtime "To-Do" list don’t just focus on cleaning the outdoor furniture, unveiling the new Traeger smoker and re-stringing the tennis racquets. Focus on your business and making the most of every opportunity. I am always happy to strategize with you.
FGMC would like to congratulate our 2022 Super Lawyers. Six FGMC lawyers were counted among the best in Colorado in the latest edition of Thomson Reuters' Super Lawyers magazine. All six partners were named Colorado Super Lawyers and three were recognized for being named a Super Lawyer for 10+ years.
Welcome Our Newest Associates
Nate Mortensen and Bryson Sebold To The FGMC Team!
FGMC is delighted to announce that Nate Mortensen has joined the firm as our newest Personal Injury associate. With a practice extending throughout Colorado, Utah, and Wyoming, Nate is a dedicated advocate across a wide region for serious injuries such as automobile, motorcycle, and bicycle collisions. Nate is a highly skilled negotiator, litigator, and is a fluent Spanish speaker; his track record proves out a laser focus on securing favorable outcomes for his personal injury clients.

Nate received his law degree from the University of Denver – Sturm College of Law in 2019 and has since been admitted to the Colorado, Utah, and Wyoming Bar Associations.

FGMC is excited to introduce you to Bryson Sebold.

Bryson supports the corporate, mergers & acquisitions, and real estate practices at FGMC, focused on helping business leaders achieve their goals while honoring the time and effort they’ve invested in their business. Growing up in a town where small business was the lifeblood of the community, Bryson shaped his legal practice to support the same critical pillars of neighborhoods, families, and communities. Bryson brings a wide range of perspectives from in-house experience at startups to legacy investment firms
As most business owners know, the primary purpose of forming most business entities is to insulate business owners, directors, and officers of the business from liability to third parties. In certain circumstances courts and third parties may ignore the existence of a business entity and hold business owners, directors, and officers personally liable for the debts and obligations of the business. One way to do this is to “pierce the corporate veil,” essentially arguing that the business entity itself is a sham. This normally occurs when business owners, directors, and officers fail to treat the business as a separate and distinct entity from themselves. The argument is not limited solely to business entities that area corporations.
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