It can be quite profitable to sell a business after years of work. The hopes of one day being acquired by a larger firm are shared by many businesses. Nevertheless, the transaction can be complicated. Certain Kansas and Federal laws governing mergers, acquisitions, negotiations or securities exchanges may come into play during the sale of a business.

How Do I Sell a Business?

To sell a business there must be an offer, whether it is solicited or not. Purchase agents in Concordia not only help to secure an offer, but also lends advice about which offers are worthwhile to consider. Preparing financial records to comply with Kansas and Federal law is necessary and will help determine 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. Because the right of control is separable, the buyer of a business in Concordia 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 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?

The advice of a local attorney practicing in Concordia will make it much easier to ensure the sale of your business is in compliance with Kansas law.