Selling a business after years of work can be extremely 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 Milford not only help to secure an offer, but also lends advice about which offers are worthwhile to consider. Preparing financial records to comply with Connecticut and Federal law is necessary 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?

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 can use the business property as it sees fit. A party seeking to purchase a Milford business may not be concerned with all aspects of the company. In fact, purchasers are typically interested in acquiring control as cheaply as possible, and this may allow other rights, including the right to future earnings, to be apportioned or even retained by the seller. These particularities make negotiations vital, during which each party should use the opportunity to voice their intentions and concerns.

How Can an Attorney Help?

The advice of a local attorney practicing in Milford will make it much easier to ensure the sale of your business is in compliance with Connecticut law.