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. The process of selling your business can be complex, however. Federal and Kansas laws over mergers, acquisitions, negotiations and securities exchanges may be important in the transaction.

How Do I Sell a Business?

The first step in selling a Great Bend business is soliciting an offer. A purchase agent can help you find prospective buyers, as well as advise you concerning whether offers that you receive are worth consideration. In order to determine the proper value for the rights you are selling, financial records must be updated and prepared to comply with Kansas and Federal law. Usually a formal contract will be written as the agreement nears its conclusion. The provisions contained in the contract should present all matters discussed in a fair light, and this requires careful review by both parties.

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. A party seeking to purchase a Great Bend business may not be concerned with all aspects of the company. In fact, purchasers are usually interested in acquiring control as cheaply as possible, and this may allow other rights, including the right to future earnings, to be apportioned or even retained by 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?

Parties who want to sell businesses must meet the requirements of Kansas law. Ensuring that the sale is proper is much simpler with the advice of a local attorney practicing in Great Bend.