Selling a Business in Florida

Find the right Selling a Business attorney in Daytona Beach, FL

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. However, selling a business is rarely a simple affair. Parties to the purchase of a business must comply with Federal and Florida laws that govern mergers, acquisitions, negotiations and securities exchanges.

How Do I Sell a Business?

Obviously, the initial step in selling a business is to either receive an offer or solicit one. In Daytona Beach, 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 Florida 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. The buyer of a business in Daytona Beach may be interested only in control of the business, and other rights within the company may not be as important. Buyers are usually looking for the cheapest route to control, and this may allow the seller to retain other rights such as the right to future earnings. Negotiations during the sales process are essential, and they should be used as an opportunity to voice fully each party's intentions and concerns.

How Can an Attorney Help?

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

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Life in Daytona Beach

Daytona Beach, Florida is known to many as a beautiful location to visit. Daytona Beach is a city located in Volusia County, Florida. What the beaches of Daytona are known for are its "hard packed" sand, which allows cars to smoothly drive on it. Therefore, tourists come to Daytona Beach year round for motorsports.

Daytona Beach's most popular attractions include ones that cater to motor sports, such as the Old Daytona Beach Roda Course, the Daytona International Speedway, and the Grand American Road Racing Association headquarters. Daytona Beach is also the headquarters for NASCAR. Each year, Daytona has Speedweeks, a race in early February where over 200,000 NASCAR fans come and attend the opening of Daytona 500. Other popular racing events include the NASCAR Coke Zero 400, Bike Week, Biketoberfest, and the Rolex 24 Hours of Daytona.

Being such a tourist attraction, a major part of the city's economy is tourism. The other main industry is manufacturing. Large corporations with a presence in Daytona Beach include Halifax Health, International Speedway Corporation, Gambro-Rental Products, Ladies Professional Golf Association, NASCAR, and SunTrust Bank. To handle the legal issues of these corporations, Daytona Beach is home to many law firms that train very capable attorneys. Therefore, corporations remain assured that any of their legal inquiries can be handled by the legal force in Daytona Beach.

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