Tolson & Wayment Tolson & Wayment

Idaho Falls Business Transaction Attorneys

Corporate Transaction Guidance in Idaho and Montana 

No matter the size or industry, every successful business is built on transactions. A business must make every effort to maximize value and protects its interests when conducting transactions with employees, independent contractors, and other companies. 

As a business owner, you cannot be expected to meticulously review and negotiate every contract for every transaction. Our team at Freedom Law can provide the attentive, comprehensive support you need to effectively navigate transactional matters so you can focus on running your business. Our Idaho Falls business transaction lawyers have over 15 years of experience and are ready to serve as your trusted advocate. Whether you are just getting started or are already in charge of a thriving business, we can offer the dedicated assistance your venture needs to succeed.

Contact us online or call (208) 271-4403 to schedule an initial consultation. Flexible payment options are available, and we offer our legal services in English and Spanish.

Expert Legal Guidance for Business Transactions

When it comes to business transactions, having the right legal guidance is crucial for protecting your interests and ensuring smooth and successful deals. Our team of experienced business transaction attorneys at Tolson & Wayment Freedom Law is dedicated to providing expert legal advice and support for a wide range of corporate transactions in Idaho and Montana.

Whether you are looking to form a new business entity, negotiate contracts, or navigate mergers and acquisitions, our attorneys have the knowledge and experience to guide you through the process and help you make informed decisions that align with your business goals.

Our business transaction services include:

  • Business formation and entity selection
  • Contract drafting and negotiation
  • Mergers and acquisitions
  • Asset purchase and sale agreements
  • Corporate governance and compliance

Don't navigate the complexities of business transactions alone. Contact us today to schedule a consultation and learn how our legal expertise can benefit your business.

Types of Corporate Transactions

You need a written, enforceable contract whenever your business interacts with another party. A strong contract will clearly articulate the responsibilities of each party, address contingencies, and comply with all applicable laws. An unenforceable or poorly written contract will not help you if problems develop.

Our Idaho Falls business transaction attorneys can assist you with:

  • Employment Agreements. Whenever your business hires a part-time or full-time employee, they should be compelled to sign an employment agreement as a condition of their employment. This contract should include the employee’s title, job description, job responsibilities, classification, employment period, and compensation details. It should also include company policies on time-off, termination, and other important matters.
  • Independent Contractor Agreements. Companies must be careful not to misclassify employees as independent contractors. An independent contractor is hired to complete a specific task or service within a stated timeline. An independent contractor agreement should detail the nature of the relationship, scope of work, deliverables, project timeline, payment terms, deadlines, and termination conditions.
  • Non-Disclosure Agreements. You may be understandably worried about employees, independent contractors, or other partners sharing your business’s proprietary information with other parties, including competitors. A non-disclosure agreement is a legally enforceable contract that creates a confidential relationship, meaning parties who sign it cannot share covered information with others. You can generally require employees, independent contractors, manufacturers, and other relevant parties to sign “NDAs” as a condition of doing business.
  • Non-Compete Agreements. A non-compete agreement is used to prevent a current employee with access to trade secrets from taking that proprietary information to a competitor after leaving your company. An employee who signs a non-compete will be unable to work for competitors within a certain geographic area for a specific amount of time. These contracts must be reasonable in scope to be enforceable in Idaho. They are not permitted in Montana. 
  • Sales Agreements. Any time your business purchases or sells goods or services, the terms of the transaction should be documented in the form of a sales agreement.
  • Commercial Real Estate. Your business will likely need commercial real estate to conduct its operations. We can assist with due diligence, zoning and land use research, the closing process, and all related contracts.
  • Mergers and Acquisitions. You may at some point see an opportunity to acquire or merge with an existing business. Another business owner could also approach you. Mergers and acquisitions are highly sophisticated transactions that require careful legal review and support. We can offer knowledgeable guidance in this area and will work to make sure the transaction is completed as efficiently and smoothly as possible.

Local Business Transaction Support in Idaho Falls

At Freedom Law, we understand the unique challenges that businesses in Idaho Falls face. Our community is vibrant and growing, with local enterprises ranging from tech startups to agricultural firms. Navigating the complexities of business transactions in this dynamic environment requires a deep understanding of local regulations and market conditions.

We are well-versed in the specific needs of Idaho Falls businesses and are familiar with the local government entities that play a crucial role in business operations. For instance, the Idaho Falls City Council and the Bonneville County Planning and Zoning Department are critical players in local business development. While we do not partner directly with these entities, our knowledge of their processes and requirements can help streamline your business transactions.

One common pain point for Idaho Falls business owners is ensuring compliance with local and state laws while maximizing the value of their transactions. Whether it's drafting employment agreements that adhere to Idaho's labor laws or negotiating contracts that protect your interests, our team is here to help. We also understand the importance of non-compete agreements in Idaho, where they must be reasonable in scope to be enforceable, unlike in Montana, where they are generally not permitted.

Our Idaho Falls business transaction attorneys are committed to providing personalized support tailored to the local market. We know the area, the challenges, and how to help your business succeed. Contact us today to learn how we can assist with your business transactions in Idaho Falls.

Our team at Freedom Law can assist your business with an individual transaction or on an ongoing basis. Call (208) 271-4403 or contact us online to discuss your needs with our Idaho Falls business transaction lawyers.

 

Commonly Asked Questions

  1. What types of business transactions require legal assistance?
    Legal assistance is recommended for a wide range of business transactions, including business formation, mergers and acquisitions, contract negotiations, employment agreements, independent contractor agreements, non-disclosure agreements, sales agreements, and commercial real estate transactions. An attorney ensures that these contracts protect your interests and comply with local laws.

  2. What is the difference between an employment agreement and an independent contractor agreement?
    An employment agreement is a contract between an employer and a full- or part-time employee that outlines the terms of employment, such as job responsibilities, compensation, and company policies. An independent contractor agreement is used when hiring a contractor to complete specific tasks or projects. This agreement defines the scope of work, deadlines, and payment terms but differs from employment agreements, as contractors are not considered employees.

  3. What are the key elements of a non-disclosure agreement (NDA)?
    A non-disclosure agreement (NDA) establishes a confidential relationship between two parties, preventing the disclosure of proprietary information to third parties. Key elements include identifying the confidential information, the scope of the confidentiality obligations, the duration of the agreement, and any exceptions to confidentiality. NDAs are commonly used to protect trade secrets, business strategies, and intellectual property.

  4. What should be included in a sales agreement for a business transaction?
    A sales agreement should detail the products or services being sold, the payment terms, delivery or performance timeline, warranties or guarantees, and remedies for breach of contract. It ensures that both parties are clear about their obligations and provides legal protection if any disputes arise.

  5. How can an attorney help with a merger or acquisition?
    Mergers and acquisitions involve complex negotiations, financial evaluations, and legal considerations. An attorney can assist with due diligence, contract review, regulatory compliance, and structuring the deal to protect your interests. They ensure that the transaction is completed efficiently and that all legal and financial risks are addressed.

  6. What are the risks of not having a written agreement in business transactions?
    Without a written agreement, business transactions are more susceptible to misunderstandings, disputes, and legal complications. Verbal agreements are harder to enforce and may not protect your interests in court. A well-drafted contract provides clear terms, outlines responsibilities, and helps prevent costly litigation by resolving potential issues in advance.

FAQ Learn More About How
We Can Help You
  • Do I Need Title Insurance When Buying a Home in Idaho or Montana?

    It is generally a smart idea to get title insurance even if you perform a thorough title search on the property you are intending to purchase. Title insurance can offer financial security if an unexpected title issue arises down the road.

  • What Are the Advantages of a Conservation Easement?

    Beyond environmental mindfulness, a conservation easement can provide considerable tax and estate planning benefits. Because conservation easements cannot typically be undone, they lower a property’s value, thus lowering the property owner’s overall taxable estate. The property owner may also be able to deduct the value of the conservation easement on their personal tax return.

  • What Is a Conservation Easement in Idaho or Montana?

    A conservation easement is a type of voluntary agreement made between a property owner and either a qualifying nonprofit or a government agency. When a property owner decides to establish a conservation easement, they agree to permanently limit the types of development that can occur on that property. For example, a conservation easement on a property with a forest teeming with natural resources may mandate that the forest never be torn down or developed. A conservation easement becomes part of the property’s deed.