Selling a Business in Connecticut

Find the right Selling a Business attorney in Meriden, 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 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.

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Life in Meriden

Meriden, Connecticut is a city in New Haven County. It currently has a population of about 60,000 people.

Meriden, which was originally part of Wallingford, became a separate city in 1727, and was incorporated in 1867. During the Industrial Revolution, Meriden earned the nickname "The Silver City," because it was a major center for the manufacture of silver products. The Parker Brothers gun company was founded in Meriden, and the manufacture of firearms during the Civil War and Spanish-American war was a major source of factory jobs in the area. The gun companywas not affiliated with the toy and game company of the same name.

Like many cities whose economies were based on manufacturing, Meriden has fallen on hard economic times in recent decades, with the closing of many of the factories that drove its economy. However, as with most of these cities, Meriden's economy is gradually recovering and diversifying.

Meriden, Connecticut lawyers are ready to handle virtually any case that a resident of the area is likely to face. If you have any legal issue, you shouldn't hesitate to call a Meriden, Connecticut lawyer.

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