Selling a Business in Arizona
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 Arizona laws concerning mergers, acquisitions, negotiations and securities exchanges that must be followed.
How Do I Sell a Business?
To sell a business there must be an offer, whether it is solicited or not. Purchase agents in Benson not only help to secure an offer, but also lends advice about which offers are worthwhile to consider. 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 Arizona and Federal law. As a final step, an agreement for the purchase will be reached, normally in the form of a written contract. It should be reviewed by all parties to ensure that what was agreed upon is accurately presented.
What Will I Give Up in the Business?
Essentially, the sale of a business entails the passing of a right known as ?control?. With control of a business, a party may direct its operations and dispose of its property as it sees fit. Since buyers in Benson are typically concerned with acquiring control, they may be willing to allow other rights, such as the right to future earnings, to remain with the seller in exchange for the cheapest price on the right of control. These particularities make negotiations vital, during which each party should use the opportunity to voice their intentions and concerns.
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How Can an Attorney Help?
The advice of a local attorney practicing in Benson will make it much easier to ensure the sale of your business is in compliance with Arizona law.