Selling a Business in Alaska
Selling a business after years of work can be extremely profitable. Many businesses are created with the hopes that they will one day be acquired by a larger firm. The sale can be complicated, however. There are Federal and Alaska laws concerning mergers, acquisitions, negotiations and securities exchanges that must be followed.
How Do I Sell a Business?
An offer is the first step in selling a business, whether you solicit one or simply receive one spontaneously. In addition to securing a prospective buyer, purchase agents in Soldotna can lend advice about which offers are worthwhile to consider. Preparing financial records to comply with Alaska and Federal law is essential and will help determine the proper value for the rights you are selling. Lastly, an agreement will be reached in the form of a written contract. All parties should review the contract to ensure that it reflects a complete understanding of what the parties have agreed.
What Will I Give Up in the Business?
The sale of a business is simply the transfer of a right known as "control". The party with control of a business directs its operations and can use the business property as it sees fit. The right of control can be separated easily from the business, and this often leads the buyers in Soldotna to be less interested in other rights within the company. In fact, buyers generally leave other rights, such as the right to future earnings, with the sellers so that they can acquire control more cheaply. Because of the wide variety of different concerns buyers may have, negotiations are vital. Each party should voice their intents and concerns during this process.
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How Can an Attorney Help?
Parties who want to sell businesses must meet the requirements of Alaska law. Ensuring that the sale is proper is much simpler with the advice of a local attorney practicing in Soldotna.