Commercial Transactions

Our attorneys prepare and review a diverse range of business documents and agreements. The attorneys of Wilson & Wilson Co., L.P.A. prepare and review leases, mergers, acquisitions, purchase/sale of businesses, notes (including cognovit notes), security agreements, and UCC filings for creditor and owner protection. 

Protecting Assets and Collecting Funds 

The Uniform Commercial Code (commonly known as the “UCC”) has been adopted in some form by all 50 states, except Louisiana in regards to the sale of goods in Article 2. The purpose of the UCC is to create a standard law to govern and “fill in the blanks” in business transactions. Under Article 9, the UCC enables businesses and individuals to secure assets and obtain priority in payment. Loans and credit extended can be secured by a security agreement and publicly given notice with a financing statement filed with the appropriate governmental authority, often the Secretary of State of the state of incorporation of the corporate debtor and state of residence of the individual debtor. A properly perfected security interest can give a creditor a priority interest in funds or assets. In other words, as a first priority secured creditor, you have a legal right to be paid first and protected from the pitfalls of debtor bankruptcy or insolvency, without having to deal with other competing creditors’ interests. 

In particular, our lawyers are experienced in forced sales by creditors under Article 9 of the UCC. A disposition of collateral under the UCC can avoid use of the court system and significantly save costs, while acquiring funds much faster. A proper security plan can be the difference between getting paid and getting nothing. 

Appeared In and Matters With: 

Federal and State Courts; United States Tax Court; Federal Trade Commission; Food and Drug Administration; Federal Aviation Administration; Environmental Protection Agency; Georgia Environmental Protection Division; Trademark Trial and Appeal Board; Equal Employment Opportunity Commission; Ohio Civil Rights Commission; Ohio Bureau of Workers’ Compensation; Ohio Unemployment Compensation Review Commission. 

Global Experience

Handled or supervised legal matters (including litigation) in the European Union, Asia and South Africa.