Economic activity continued to expand in mid-November through late December, according to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”). Payrolls in a variety of sectors expanded moderately. Hiring for both temporary and permanent positions, as well as demand for staffing services, was mixed. Significant wage pressures continued to be limited largely to workers with particular technical skills.
Ortoli | Rosenstadt: What Exactly Is a Seller Responsible for When Selling Its Staffing Firm?
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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