Selling a Business in Connecticut

Find the right Selling a Business attorney in Hartford, CT

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 Connecticut laws over mergers, acquisitions, negotiations and securities exchanges may be important in the transaction.

How Do I Sell a Business?

To sell a business there must be an offer, whether it is solicited or not. Purchase agents in Hartford not only help to acquire an offer, but also lends advice about which offers are worthwhile to consider. Preparing financial records to comply with Connecticut and Federal law is crucial and will help determine the proper value for the rights you are selling. As an agreement for the purchase is reached, typically 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. The right of control can be separated easily from the business, and this often leads the buyers in Hartford to be less interested in other rights within the company. In fact, buyers frequently leave other rights, such as the right to future earnings, with the sellers so that they can acquire control more cheaply. These particularities make negotiations essential, during which each party should use the opportunity to voice their intentions and concerns.

How Can an Attorney Help?

In selling a business, the seller must meet the requirements of Connecticut law. A local lawyer practicing in Hartford will be able to advise you about your particular sale.

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Life in Hartford

Hartford, Connecticut is a diverse and historic city located in Hartford County. It is the state capital as well as the county seat for Hartford County. The Hartford metropolitan region boasts the second highest national rating for per capita economic activity (behind San Francisco). It is part of an area known as the "Knowledge Corridor", which is home to thirty-two colleges and universities.

Hartford, Connecticut is also nicknamed "the Insurance Capital of the World", as it houses headquarters for several major insurance companies. The insurance field is Hartford's major industry. The Phoenix Mutual Life Insurance Building is one of the city's main features. Other places of interest in Hartford are the Soldiers and Sailors Memorial Arch and the Bushnell Center for the Performing Arts.

Being nearly 400 years old, Hartford Connecticut is home to a whole host of "oldest" operations in the U.S. A few examples include the nation's oldest published newspaper in operation (The Hartford Courant); the oldest public park (Bushnell Park) and the Wadsworth Atheneum, which is the country's oldest public art museum. Notable residents have included author Mark Twain and actress Katharine Hepburn. The city also boasts a large number of modern retail stores and restaurants.

Lawyers in Hartford, Connecticut continue the city's rich history in legal services. Hartford lawyers are knowledgeable of the various statutes and laws that regulate the city's businesses and population. They are available for legal assistance in a broad range of legal fields.

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