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 initial step in selling an Overland Park 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. Preparing financial records to comply with Kansas and Federal law is crucial and will help determine the proper value for the rights you are selling. A formal contracts will likely be written to solidify the sales agreement. Careful review of this agreement is crucial so that all concerns voiced during negotiations are accurately presented.
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 Overland Park 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?
The law in Kansas places certain demands on parties who want to sell a business. Lawyers in Overland Park are qualified to advise you in this process and ensure that the sale is in compliance with the law.