Although the market may be cooling down due to inflation or the drops in the stock market, it’s still an optimal time for companies looking at merger and acquisition deals.
There have been numerous announcements of mergers and acquisitions in the past year, from smaller companies to giants. In this Legal Insights episode, Trent Cotney, partner at Adams and Reese, shares some valuable tips on what contractors should keep in mind about their licensing if they’re looking to sell or buy a company.
“If you forget about that and the person buying your company, or if you’re buying another company and that isn’t taken care of, you could potentially be left holding the bag without actively being able to do business in that area,” said Cotney.
As covered in previous Legal Insights videos, licensing should be a priority for contractors, as it can quickly become a problem if an employee with the only license leaves.
The conversation switches to Cotney’s home state of Florida, which has been a hotbed of roofing-based legislation as of late. Case in point, a companion bill to Senate Bill 76, House Bill 305 directly affected the solicitation of contractors going door to door. The statute was put on hold due to a lawsuit from a roofing contractor. Cotney gives an update on this case following a recent special session Florida lawmakers held addressing insurance.
Finally, Cotney gives a few do’s and don’ts on arbitration that contractors should know about the process, as it can be both beneficial and costly.
Watch the full video here, or download the audio version on our podcast page.
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