Bloomberg (09/11/14) Jeanna Smialek
The number of people applying for unemployment benefits in the week ended Sept. 6, which included the Labor Day holiday, rose by 11,000 to 315,000, according to the U.S. Department of Labor. Economists surveyed by Bloomberg had forecast claims of 300,000. The data are hard to adjust during holiday periods, a DOL spokesperson said. The four-week moving average of new claims rose 750 to 304,000.
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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