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Structure The Deal
Once you have agreed in plain English as to what the deal will be, it is time to bring in your accountant and lawyer to structure it. This involves translating your agreement into a legal document that carefully spells out all the provisions and that minimizes your risk and your tax liability. There are a number possible ways to structure deals; the intricacies and exact wording are best left to the professionals (or at least to professional recommendation) who understand the technicalities. There are often many difficulties to iron out in this phase. However, if the buyer and seller worked through their negotiations and agreed in concept, there should not be any deal killers popping up in the structuring process.
Structure is discussed in detail in sections X, XI, XII, XIII