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. 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?
An offer is the first step in selling a business, whether you solicit one or simply receive one spontaneously. In addition to securing a prospective buyer, purchase agents in Leon County can lend advice about which offers are worthwhile to consider. During this process, the financial records must be updated and prepared in strict accordance with Florida and Federal law. The reliability of these methods is necessary in determining the proper 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?
In selling a business, the buyer gains a right known as "control". Control of a business entitles a party to direct its operations and it can also controls what is done with business property. The right of control can be separated easily from the business, and this often leads the buyers in Leon County to be less interested in other rights within the company. In fact, buyers often leave other rights, such as the right to future earnings, with the sellers so that they can acquire control more cheaply. 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 law in Florida places certain demands on parties who want to sell a business. Attorneys in Leon County are qualified to advise you in this process and ensure that the sale is in compliance with the law.