Dow Jones Newswires (02/16/12)
Approximately 57% of U.S. workers who are at least 60 years old would look for a new job after retiring from their current company, according to a survey conducted by Harris Interactive on behalf of ASA corporate partner CareerBuilder. Meanwhile, an increasing number of employers are looking to hire seasoned staff, with 43% planning to hire workers age 50-plus this year, and 41% reporting they hired workers who were at least 50 years old in 2011.
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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