Selling a Business in Michigan

Find the right Selling a Business attorney in Lansing, 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 first step in selling a Lansing 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 Michigan and Federal law. A formal contracts will likely be written to solidify the sales agreement. Careful review of this agreement is necessary so that all concerns voiced during negotiations are accurately presented.

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. The buyer of a business in Lansing may be interested only in control of the business, and other rights within the company may not be as important. Buyers are usually looking for the cheapest route to control, and this may allow the seller to retain other rights such as the right to future earnings. 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?

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 attorney practicing in Lansing.

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Life in Lansing

Lansing, Michigan is the capital of the state of Michigan. It currently has a population of approximately 115,000 people, making it the 5th largest city in Michigan. It is located in Ingham and Eaton Counties.

Lansing, Michigan is home to the largest law school in the U.S. - Thomas M. Cooley School of Law. Many Lansing, Michigan attorneys went to this university, and returned to Lansing to practice. It is also home to the Michigan State University School of Law, which is ranked among the top 100 law schools in America, meaning that there are many prestigious lawyers practicing in Lansing, Michigan.

These universities are also among the largest employers in Lansing, Michigan, employing people in a wide range of professions, such as teaches and administrators, as well as custodial personnel.

If you live in Lansing, Michigan and need an attorney, there's an excellent chance that you'll be able to find the Lansing, Michigan lawyer who can help you with your legal issue.

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