Selling a Business in California
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 California 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 Adelanto not only help to secure an offer, but also lends advice about which offers are worthwhile to consider. Preparing financial records to comply with California and Federal law is necessary and will help determine the proper value for the rights you are selling. 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?
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. Since buyers in Adelanto 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?
In selling a business, the seller must meet the requirements of California law. A local attorney practicing in Adelanto will be able to advise you about your particular sale.