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Financially Simple Bizcast

The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Nov 22, 2021

In episode 386 of Financially Simple, Justin talks to Mital Patel of Triamicus Law about the legalities of selling your business.

With the “do-it-yourself” attitude of most business owners, some of the important complex and difficult legal issues that crop up when selling a business can be overlooked or even ignored. In this episode, Justin and Mital go over the purchase agreement, and consider the important fundamentals that need to be addressed in the document so that both the buyer and seller, and even third parties involved, are not liable for preventable issues.

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00:42 - The Legalities of Selling Your Business, with Mital Patel

03:56 - What is a Purchase Agreement

06:24 - The Importance of Language in Provisions

09:11 - When is an Agreement Needed

14:17 - Be Prepared

17:10 - Other Areas an Agreement Covers

18:31 - Red Flags

21:19 - Recommended Reading

23:26 - A Nugget of Wisdom

25:07 - Wrap Up



Work with Our Team

Mital Patel on LinkedIn

Triamicus Law

What Would the Rockerfellers Do? by Garrett B. Gunderson

Financially Simple on YouTube

Advance Child Tax Credit Payments in 2021

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Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. To learn more about our credentials and awards, please visit This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.