Bloomberg (10/30/14) Shobhana Chandra
The number of people applying for unemployment benefits in the week ended Oct. 25 rose by 3,000 to 287,000, according to the U.S. Department of Labor. Economists surveyed by Bloomberg had forecast claims ranging from 273,000 to 300,000. The four-week moving average of new claims fell by 250 to 281,000, the lowest since May 2000.
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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