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 Garden City not only help to secure an offer, but also lends 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 Georgia 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. Because the right of control is separable, the buyer of a business in Garden City 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. Because of the wide variety of different concerns buyers may have, negotiations are vital. Each party should voice their intents and concerns during this process.
How Can an Attorney Help?
The law in Georgia places certain demands on parties who want to sell a business. Attorneys in Garden City are qualified to advise you in this process and ensure that the sale is in compliance with the law.