If you are considering buying or investing in a business, you may already have talked to an accountant, business broker and a banker. A lawyer also should be on your list of advisers.
Lawyers are trained to see the big picture and how all the moving parts of a deal touch each other. They are well suited to lead a team of specialists who bring together your business investment.
As a business person, you are naturally excited about the opportunity a new investment brings. As a risk manager, your lawyer is looking ahead to the inevitable disputes and threats of litigation that eventually emerge in most businesses. Relatively minor changes in business entity structure (that are much harder to effect down the road) can result in tax savings, separate assets for the purpose of liability protection, and align with your overall estate and business succession plans.