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 St. Pete Beach can lend advice about which offers are worthwhile to consider. The purchaser may want financial records to be updated in accordance with Florida and Federal law. This may be required by law in some cases, and besides, it always helps in determining the correct value for the rights you are selling. 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. Because the right of control is separable, the buyer of a business in St. Pete Beach may not be interested in other rights within the company. Actually, control is typically cheaper to purchase without other rights such as the right to future earnings. Sometimes buyers negotiate to allow those right to remain with the seller. 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?

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