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 Chatham County 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 crucial in determining the proper value for the rights you are selling. As an agreement for the purchase is reached, usually a formal contract will be written. It is important to review such documents before they are signed so that all aspects of the agreement are presented properly.

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 Chatham 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. Negotiations during the sales process are essential, and they should be used as an opportunity to voice fully each party's intentions and concerns.

How Can an Attorney Help?

Georgia law places certain requirements on parties selling a business. Making the sale run properly and smoothly is much easier with the advice of a local attorney practicing in Chatham County.