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Acquiring Online Businesses

2013 was a busy year in the online adult industry; especially in terms of business purchases, sales and mergers. Online businesses were purchased at record prices in 2013 and I expect that 2014 will continue the trend. This is the first of a series in which I will discuss some of the more important do’s and don’ts when purchasing an online adult business. This article is not meant to replace the services of an attorney nor is it meant to be an inclusive list of everything that a purchaser should do. Part 1 will focus on a purchase from a buyer’s perspective while Part 2 will focus on a purchase from a seller’s perspective. Keep watch for Part 2 in XBIZ World. Due Diligence I am always amazed by how many purchasers contact my office in the course of purchasing an online business and have no idea what they are buying. The seller of an online business or any business for that matter is always going to present its business in the most favorable light in order to attract more potential buyers and obtain a better purchase price. As the saying goes “don’t buy a book by its cover;” do…

Let’s Talk Content and Licensing Agreements

As I write this column, the holiday season has arrived and with it the end of the year. And when the new year rolls around, the adult industry enters into one of the busiest trade show schedules of the year. In the month of January alone, AVN presents an array of shows in Las Vegas: the AVN Adult Entertainment Expo—both the B2B show and the Fan Fest—the Adult Novelty Expo, the AVN Awards Show, and InterNext. Also in the month of January, XBiz presents XBiz 360. Trade shows are a fantastic way to network, learn, improve and grow as a member of the adult industry community, and I urge you to take advantage of the many benefits of the trade shows. I have been attending AVN-sponsored trade shows for over a decade and I am continuously amazed by the great seminars and speakers put together by the AVN team. There is a good chance that you are reading this article while you are at one of the trade shows mentioned above and I encourage you to attend as many seminars as possible. Don’t be afraid to step into a seminar that you don’t think affects your particular business; you never…

The Adult Industry and Contracts

Would you buy a house without a deed? Would you buy a car without getting its title? Or do you blindly sign every document that shows up in the mail promising free money? I'm assuming that you answered all of those questions with a "no." So why is it that most people are smart enough not to engage in the ridiculous examples mentioned above, yet when it comes to contracts and people in the adult industry, I find myself dealing with clients every day who either rushed into an agreement without a written contract, didn't consult with a lawyer prior to making a contract, and/or didn't understand the terms of a contract before they signed it? First, a simple definition of a "contract:" a contract is an agreement between two or more parties that is enforceable by law. While many contracts are in written form (and very much should be), many states only require that certain types of contracts be in writing. The legal term "statute of frauds" generally governs which types of contracts must be writing. Traditionally, the statute of frauds applies in the following circumstances: contracts in consideration of marriage, contracts that cannot be performed within one year,…

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