Selling a Business in Alabama

Tuskegee Business Attorneys Lawyers, AL

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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 Alabama laws concerning mergers, acquisitions, negotiations and securities exchanges that must be followed.

How Do I Sell a Business?

Of course, there must be an interested buyer with an offer in order to sell a business. The job of purchase agents in Tuskegee is not only to secure an offer, but they also lend advice about which offers should be considered. Determining the correct value for the rights you are selling is critical in this process. To do this, financial statements must be updated and prepared to comply with Alabama and Federal law. 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 buyer of a business in Tuskegee may be interested only in control of the business, and other rights within the company may not be as important. Buyers are usually looking for the cheapest route to control, and this may allow the seller to retain other rights such as the right to future earnings. The wide variety of concerns that buyers may have make the negotiations process particularly vital. It's important at the outset for each party to make plain their intentions and concerns.

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2 Business - Transactional cases posted to LegalMatch lawyers in Tuskegee

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How Can an Attorney Help?

Parties who want to sell businesses must meet the requirements of Alabama law. Ensuring that the sale is proper is much simpler with the advice of a local attorney practicing in Tuskegee.

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