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what about other assets on a sale / how long to store PERS records / terminate for being rude / need for license when selling DIY 
August 4, 2018
what about other assets on a sale
    I've read a number of your articles dealing with selling alarm accounts. What about other assets? Don't they get sold when the accounts are sold?
    In the alarm industry the principal asset in an Asset Purchase Agreement are the written contracts with RMR.   Typically the RMR is sold based on a calculation using a multiple. But you are correct that other assets are also usually sold at the same time, though these assets generally do not have significant value compared to the contracts.
    Assets that would be separately itemized, valued and sold would include vehicles, inventory, both used and new, furniture and fixtures. 
    Other assets would not generally receive separate consideration; in other words, these assets are included in the calculation of the RMR. These assets typically include, trade name, domain name, website. In this category of assets that will be included and not paid for, include non RMR revenue, such as per call service, inspection on a per call basis, revenue from sales, good will. Of course you can turn service and inspection into RMR, which would be a good idea if you are positioning to sell.
    Buying or selling.  Give me a call for assistance.
how long to store PERS records
    what do you feel is a good time to hold terminated PERS agreements. I still keep a copy of the customer info electronically for future reactivation, but once terminated, usually death related, paperwork needs to be held for how long. I have been keeping it for 1 year.
Ron F
    Minimum of four years.
terminate for being rude
    Do we have a right to terminate a client's account for being disrespectful. Their contract has 5 months left on it.
Thank you for your guidance.
Best regards,
    I think that's a bit too subjective. I suggest you finish out the contract and let subscriber know that you won't renew. 
need for license when selling DIY
    I am having a hard time trying to figure out if we need a license in the state of Michigan and Rhode Island. We are an alarm company based out of Utah , we sell alarm systems online through E commerce and occasionally help customers over the phone with purchasing, however we do not have a location in either state and we do not have employees in either state, the customer self-installs the system they buy from us themselves. Can you help me with knowing if we need a license in either state?
Best Regards
    You won't need an alarm license to sell DIY equipment over the Internet or phone. You may need other licenses. You don't mention if you enter into monitoring contracts with the customers who buy your DIY products. If you do, you need an alarm license in at least 20 states, Rhode Island included. 
    Nationwide licensing issues should be addressed by engaging K&K license department to assist you. You will also need our Nationwide Agreements, which you can order on our order page. Hopefully you've budgeted for legal services beyond free advice on this forum.

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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
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