A letter of intent (LOI) is a preliminary document that outlines the basic terms of a proposed dental practice purchase before the parties negotiate a final purchase agreement. While many of its business terms are nonbinding, an LOI can shape the direction of the transaction and establish expectations for both the buyer...
Red Flags in Dental Practice Purchase Agreements
Buying a dental practice can feel like a major step forward—you might already be thinking about new patients and long-term growth. Before you sign a purchase agreement or letter of intent, though, it’s important to look closely at the legal and financial terms tied to the transaction.
Purchase...
Transferring Ownership to a Junior Dentist: Legal Steps to Make the Transition Smooth
If you’re considering retiring or stepping back from your dental practice, you might also be thinking about passing it on to one of the junior dentists in your office who wants to have a practice of their own. However, you’ll need to follow specific steps to ensure a smooth transition that ensures...
Associate Buy-Ins: Legal Checklist
During the process of negotiating an associate buy-in, parties have various legal issues they will need to address. Developing a checklist can help them avoid overlooking important details.
Understanding the Buy-In AgreementAn associate buy-in agreement allows a dental practice owner to let associates...
Should You Buy or Lease Your Dental Practice Space?
If you are setting up a new dental practice, you are going to have a great many important decisions to make. These are decisions that will not just have a short term impact, but can impact your dental practice and its well-being far into the future. Consider, for instance, where you are...
What to Do After You Buy a Dental Practice
Buying a dental practice is a big deal. It is perhaps going to be one of the biggest and most complex purchases you will ever end up making. In the final stages leading up to closing day, there is going to be a lot to do and you may feel a...
Conducting Due Diligence for a Dental Practice Purchase
Thinking of purchasing a dental practice? Purchasing an existing and established dental practice can have many perks. There may be a sizeable and well-settled client base as well as trusted staff members, efficient systems in place, and much more. Before you purchase a practice, however, due diligence is critical. You do...
Successfully Negotiating Your Dental Office Lease
Your dental office lease can have a profound impact on your practice as well as your practice’s value. Among other important terms, your lease will establish the rent you will pay, your responsibility regarding upkeep and upgrades made to the property, and your ability to renew your lease. Do not miss out...
A Fair Purchase Price for Buying a Dental Practice
It goes without saying that the sale price is a critical factor to consider when either buying or selling a dental practice. If selling, you want to be sure that your asking price is competitive and can be backed up when potential buyers come inquiring. When you are looking to buy...
Important Terms When Buying a Dental Practice
Buying a dental practice involves much more than agreeing on a purchase price. The terms of the transaction determine what you are actually acquiring, what risks you are assuming, and how smoothly ownership will transfer. Understanding these provisions before signing can help you make informed decisions and avoid costly surprises after closing.
