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 Holly Hill, 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. Typically a formal contract will be written as the agreement nears its conclusion. The provisions contained in the contract should present all matters discussed in a fair light, and this requires careful review by both parties.
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 Holly Hill may be interested only in control of the business, and other rights within the company may not be as important. Buyers are typically looking for the cheapest route to control, and this may allow the seller to retain other rights such as the right to future earnings. The wide variety of concerns that buyers may have make the negotiations process particularly vital. It's important at the beginning for each party to make plain their intentions and concerns.
How Can an Attorney Help?
The law in Florida places certain demands on parties who want to sell a business. Lawyers in Holly Hill are qualified to advise you in this process and ensure that the sale is in compliance with the law.