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 Prescott Valley not only help to secure an offer, but also lends advice about which offers are worthwhile to consider. Preparing financial records to comply with Arizona and Federal law is necessary 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?
In selling a business, the buyer gains a right known as "control". Control of a business entitles a party to direct its operations and it can also controls what is done with business property. Since buyers in Prescott Valley 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. Negotiations during the sales process are vital, and they should be used as an opportunity to voice fully each party?s intentions and concerns.
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How Can an Attorney Help?
The advice of a local attorney practicing in Prescott Valley will make it much easier to ensure the sale of your business is in compliance with Arizona law.