Direct Talk

If you are buying a business, due diligence is your opportunity to verify that what you are being told about the business is actually true.

Due Diligence Basics: What North Carolina Buyers and Sellers Need to Know

Due diligence is the investigative process that happens after a letter of intent is signed but before the purchase agreement is finalized and the deal closes. The buyer is given access to information about the business so they can confirm what they are buying, identify any problems, and make informed decisions about whether and how to proceed.

Your LLC protects your personal assets from business liabilities. But your contracts determine the scope of those liabilities in the first place. A contract that limits your liability means there is less exposure for your LLC to protect you from.

Contracts: The Final Layer of Protection for Your North Carolina Business

Your LLC protects you if something goes wrong. Your insurance pays out when a covered claim arises. Contracts work differently. A well-drafted contract defines the rules before anything goes wrong, and that changes everything about how disputes play out, or whether they happen at all.

Your North Carolina entity protects your personal assets, but it does not protect your business. Here is why you need both an LLC or corporation and business insurance, and what happens when you only have one.

The Insurance Gap Your North Carolina LLC or Corporation Needs to Fill

Many people believe that forming an LLC means they're fully protected from all business risks. When I ask if they have business insurance, they look genuinely surprised. "But I have an LLC. Isn't that enough?"

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