Selling a Business in California

Imperial County Business Attorneys Lawyers, CA

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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 process of selling your business can be complex, however. Federal and California laws over mergers, acquisitions, negotiations and securities exchanges may be important in the transaction.

How Do I Sell a Business?

Obviously, the initial step in selling a business is to either receive an offer or solicit one. In Imperial County, purchase agents do more than simply find buyers. They also lend advice about which offers are worthwhile to consider. The purchaser might want financial records to be updated in accordance with California and Federal law. This might be required by law in some cases, and besides, it always helps in determining the correct value for the rights you are selling. Finally, 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 may use the business property as it sees fit. Because the right of control is separable, the buyer of a business in Imperial County may not be interested in other rights within the company. Actually, control is usually 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. Because of the wide variety of different concerns buyers may have, negotiations are essential. Each party should voice their intents and concerns during this process.

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How Can an Attorney Help?

The advice of a local lawyer practicing in Imperial County will make it much easier to ensure the sale of your business is in compliance with California law.

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