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 North Miami can lend advice about which offers are worthwhile to consider. In order to determine the proper value for the rights you are selling, financial records must be updated and prepared to comply with Florida and Federal law. Lastly, 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 can 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 North Miami 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?

In selling a business, the seller must meet the requirements of Florida law. A local attorney practicing in North Miami will be able to advise you about your particular sale.