Selling a business after years of work can be very 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 Albany not only help to acquire an offer, but also lends advice about which offers are worthwhile to consider. Preparing financial records to comply with California and Federal law is imperative and will help determine the proper value for the rights you are selling. As an agreement for the purchase is reached, normally a formal contract will be written. It is important to review such documents before they are signed so that all aspects of the agreement are presented properly.
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 might direct its operations and dispose of its property as it sees fit. Because the right of control is separable, the buyer of a business in Albany may not be interested in other rights within the company. Actually, control is normally cheaper to purchase without other rights such as the right to future earnings. Sometimes buyers negotiate to allow those right to remain with the seller. Negotiations become essential in light of these particularities, and each party should use negotiations as an opportunity to make plain their intentions and concerns.
How Can an Attorney Help?
The law in California places certain demands on parties who want to sell a business. Lawyers in Albany are qualified to advise you in this process and ensure that the sale is in compliance with the law.