Selling a business after years of work can be very 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 Griffin not only help to acquire an offer, but also lends advice about which offers are worthwhile to consider. In order to decide the proper value for the rights you are selling, financial records must be updated and prepared to comply with Georgia and Federal law. 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?
Essentially, the sale of a business entails the passing of a right known as ?control?. With control of a business, a party might direct its operations and dispose of its property as it sees fit. Because the right of control is separable, the buyer of a business in Griffin may not be interested in other rights within the company. Actually, control is usually 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. Negotiations become essential in light of these particularities, and each party should use negotiations as an opportunity to make plain their intentions and concerns.
How Can an Attorney Help?
In selling a business, the seller must meet the requirements of Georgia law. A local Lawyer practicing in Griffin will be able to advise you about your particular sale.
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