Selling a Business in Michigan

Find the right Selling a Business attorney in Kalamazoo, MI

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 a business is rarely a simple one, however. Federal and Michigan laws govern the areas of mergers, acquisitions, negotiations and securities exchanges, and they must be followed for the transaction to have legal effect.

How Do I Sell a Business?

The initial step in selling a Kalamazoo 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 decide the proper value for the rights you are selling, financial records must be updated and prepared to comply with Michigan and Federal law. A formal contracts will likely be written to solidify the sales agreement. Careful review of this agreement is imperative 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 Kalamazoo may not be interested in other rights within the company. Actually, control is normally 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 essential. Each party should voice their intents and concerns during this process.

How Can an Attorney Help?

Michigan law places certain requirements on parties selling a business. Making the sale run properly and smoothly is much easier with the advice of a local lawyer practicing in Kalamazoo.

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Life in Kalamazoo

Kalamazoo is located in Kalamazoo County. Specifically it is located in the southwestern part of Michigan. It is home to approximately 326,589 people.

Some popular sites include the Kalamazoo Institute of Arts, Kalamazoo Valley Museum, Hickory Corners, Gilmore Car Museum, the Kalamazoo Air Zoo, the New Vic Theatre, Barn Theatre, the Gibson Guitar Corporation, and Wings Stadium.

Some of the top employers are the health care system and school district. Kalamazoo is also home to three local breweries and that employ many residents. With small businesses around, naturally the city is also home to attorneys there to provide legal support. Kalamazoo is home to many attorneys who work in law offices and firms that practice in many areas of law. Therefore, residents can remain rest assured, because any and every legal need of theirs can easily be taken care of.

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