James R. Adams heads the Business Sales and Acquisitions Department at Adams Law Group as he has been a business broker and has, in his capacity as attorney, conducted numerous business escrows. Having represented both buyers and sellers, the business attorneys at Adams Law Group are well versed in the art and science of buying and selling businesses. Buying or selling a business is often the largest single financial transaction undertaken by an individual. Both the buyer and the seller have a great amount at stake when entering into a business sale transaction. Unfortunately, there are numerous hazards and pitfalls for both the buyer and the seller which, sometimes, results in litigation. In fact, at any given time, the business lawyers at Adams Law Group are representing in the Nevada courts, buyers who are suing sellers, and sellers who are suing buyers.

Buyers of businesses need to be aware of common scams involving the sale of businesses. For example, one important factor in valuing a business is the amount of money it makes. However, books can be doctored, income figures can be falsified, and the value of assets can be inflated. A common claim of some sellers is that the business makes more money than is disclosed on the books or on the tax returns. Sellers may state that cash is "taken under the table" so as not to have to report it on their tax returns. Buyers should not have to be at the mercy of a seller's proclaimed honesty, but should verify all figures, whether reported or not, during the buyer's due diligence period. Since buying a business is one of the largest investments a buyer is likely to make, buyers should have a professional attorney with business experience to represent his interests. The business lawyers at Adams Law Group will conduct the necessary Uniform Commercial Code searches to determine whether any encumbrances exist on the assets of the business, and will conduct local, state, and federal tax, lien and judgment searches. The business lawyers at Adams Law Group will counsel their clients about what pitfalls to look out for and will protect their clients in all phases of a business sale transaction.

In Nevada, a person or company can buy or sell a business through a business broker without the involvement of an attorney. However, there are some business brokers that may be more concerned with closing deals and getting a commission than they are concerned about the welfare of their clients. An attorney may be retained to represent the client's interests exclusively, regardless of whether not the deal is conducted through a broker. Therefore, for the highest level of protection when buying or selling a business, a business buyer or seller should consult an attorney experienced in business sales.

In addition to being a business lawyer, James R. Adams has co-owned the largest business brokerage firm in Las Vegas. As a result, he has a practical understanding of the unique and often complex issues involved in the sale or purchase of a business.