When purchasing a turnkey business, even if it is one that has been in operation for quite some time, there are several legal matters to attend to before the purchase should take place.
It is always wise to ensure that federal, state, and local law is being met, so even in cases where the previous owner of a prospective turnkey business is supposed to have taken care of legal or regulatory concerns before the transfer of ownership, it is still a good idea to double check. The reality of the matter is that all too often legal affairs are not in order before the business changes hands.
