Category Archives: Legal Documents

Grow Your Grapevine | Networking with accountants, attorneys, and equipment reps

You know the song “I Heard It Through the Grapevine”? (Of course you do.) If you remember high school (or any high school TV drama), you know that the grapevine can be a bad thing. However, sometimes the grapevine can be used to your advantage…the dental grapevine that is. Equipment reps are in and out […]

The Most Important Document In Your Practice

For all the aspiring dental practice owners out there, here’s something to think about as you move into ownership: your employee handbook. An employee handbook is the most important document in your office. Other documents are important, too, but the employee handbook is the end-all-be-all when it comes to how a dental practice owner interacts with the […]

3 Commonly Missed Factors You Can IGNORE When Comparing Two Dental Practice Loans

(This is part 4 and the last in a series of posts on how to compare dental practice loans. Read Part 1 “How to Compare Rates on Practice Loans” Read Part 2 “How to Compare Fees on Practice Loans” Read Part 3 “How to Compare Process on Practice Loans”) When comparing dental practice loans three […]

Three Tips to Effectively Submit a Letter of Intent to a Seller

Submitting a letter of intent is a big step in the dental practice purchase process. At a minimum, it typically starts a negotiation process that can lead to your buying a practice. But ultimately, it’s the offer you hope gets accepted. I talked about what a letter of intent should include in an earlier post. But how […]

The 2 Types of Dental Practice “Financials” and What They Tell You

One of the key pieces of information you’ll need to get when buying a dental practice is the financials of the practice you want to buy. Ah, the “financials.” What does that word mean anyway? Buying a dental practice can feel like it has a language all its own sometimes. I swear finance people in […]

How the Asset Allocation Works When Buying a Dental Practice

  How the Asset Allocation Works When Buying a Dental Practice One area where significant dollars can change hands when buying a dental practice is the asset allocation, or tax treatment, of the total purchase price. You don’t need to become a tax expert, but a little knowledge here can go a long way toward […]

3 Reasons to Choose a Flat-fee Attorney when Buying a Dental Practice

The vast majority of dentists buying a dental practice should choose a flat-fee attorney. I’ll lay out the pros and cons of both approaches below and you can decide for yourself. #1 – You’ll Be Happier Knowing Your Costs Upfront The main reason I recommend a flat rate attorney is buyers are happier knowing their […]

4 Things Your Attorney Should Do for You When Buying a Dental Practice

When buying a dental practice, one of the most important members of your purchasing team should be your lawyer or attorney. A good attorney that understands how to buy a dental practice can literally save you hundreds of hours of stress and hundreds of thousands of dollars. As a dentist, you know the value of specialization. […]