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 Meriden 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, 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?
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. The right of control can be separated easily from the business, and this often leads the buyers in Meriden 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. 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.
How Can an Attorney Help?
Connecticut law places certain requirements on parties selling a business. Making the sale run properly and smoothly is much easier with the advice of a local Lawyer practicing in Meriden.