Bloomberg (07/24/14) Nina Glinski; Victoria Stilwell
The number of people applying for unemployment benefits in the week ended July 19 fell by 19,000 to 284,000, the fewest since February 2006, according to the U.S. Department of Labor. The 50 economists surveyed by Bloomberg had forecast claims of 307,000. The four-week moving average of new claims dropped by 7,250 to 302,000, the lowest level since May 2007.
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
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