Austin seems to be a buzz with individuals and small businesses investing in and buying existing companies. The clients that I visit with about potential investments sometimes are so excited about the deal that they forget about the "due diligence" portion. Below is an extensive list of areas/documents that should be reviewed before you sign off on any deal. Having an attorney, CPA and financial advisor are also key.

1) Company Organizational Documents.
2) Affiliate Agreements.
3) Debt and Obligations.
4) Government regulations.
5) Taxation Documents.
6) Financial Data.
7) Management and Employee Structure.
8) Litigation (pending and future).
9) Operational Documents.
10) Property.
11) Insurance Policies.
12) Appraisals.
13) Intellectual Property.
14) Marketing and Pricing Practices.
15) Other Material Agreements.