comment on what liability and exposure does buyer of alarm accounts assume and accept / DYI deals September 6, 2018

KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE
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comment on what liability and exposure does buyer of alarm accounts assume and accept / DYI deals
September 6, 2018
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comment on what liability and exposure does buyer of alarm accounts assume and accept from August 29, 2018 article
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Ken,
    Gene at Reliable Alarm offered up another great question regarding liabilities of Buyers and Sellers after a transaction. I like Gene’s questions much more than our poor friend Anon, who seems to get into trouble first, then to ask questions.
    Your answer was spot on, and, perhaps due to your tremendous humility, you didn’t emphasize enough that this is a good reason to employ competent professionals, with industry knowledge, early on, so I will say it. If you are preparing to sell your company, or even a block of accounts, engage an attorney, preferable Ken, early on. 
    I get calls all of the time from dealers looking for litigation support because their transactions have gone bad. Had they used an attorney like Ken, instead of their brother in law, or no attorney at all, the issues that they are struggling with would have been clearly defined in the Purchase Agreement. What’s more, they most probably would have been accounted for before the money changed hands. 
    Your attorneys, accountants, insurance brokers, bankers, etc. are most probably very competent, but they don’t advise their clients on transactions very often. They may not have ever been involved in a security company transaction. Get experienced advice and get it early on.
Mitch Reitman
Reitman Consulting Group
|Fort Worth, TX 
817-698-9999
http://www.reitman.us
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more on Can I use a form to sell or buy accounts from August 30, 2018 article 
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Ken
    With all due respect, everybody regrets using an attorney. Most recognize the necessity, but all regret it. That’s why all the funny jokes are about lawyers...
    Keep up the good work!
Dan 
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Ken,
    To your poster with this question (Can I use a form to sell or buy accounts?). I have been at the forefront of several deals involving purchases and I will tell him (politely) you are out of your mind! Get help. It will be a disaster if you don’t.
    Enough said.
Terry 
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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301
ken@kirschenbaumesq.com
516 747 6700
www.KirschenbaumEsq.com