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 Georgia laws that govern mergers, acquisitions, negotiations and securities exchanges.

How Do I Sell a Business?

To sell a business there must be an offer, whether it is solicited or not. Purchase agents in Buford not only help to secure an offer, but also lends advice about which offers are worthwhile to consider. During this process, the financial records must be updated and prepared in strict accordance with Georgia and Federal law. The reliability of these methods is necessary in determining the proper value for the rights you are selling. As a final step, an agreement for the purchase will be reached, typically in the form of a written contract. It should be reviewed by all parties to ensure that what was agreed upon is accurately presented.

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. Since buyers in Buford are usually concerned with acquiring control, they may be willing to allow other rights, such as the right to future earnings, to remain with the seller in exchange for the cheapest price on the right of control. 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 Georgia law. A local attorney practicing in Buford will be able to advise you about your particular sale.