Selling a Business in North Carolina

Find the right Selling a Business attorney in Gastonia, NC

After years of work in a business, it can be quite profitable to sell it. Being acquired by a larger company is something that many hope for. Nevertheless, the transaction can be complicated. Certain North Carolina 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 Gastonia not only help to acquire an offer, but also lends advice about which offers are worthwhile to consider. Preparing financial records to comply with North Carolina and Federal law is imperative 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 may use the business property as it sees fit. Because the right of control is separable, the buyer of a business in Gastonia 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 lawyer practicing in Gastonia will make it much easier to ensure the sale of your business is in compliance with North Carolina law.

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Life in Gastonia

Gastonia is home to around 70,000 people and is North Carolina's thirteenth largest city.

Some major employers which have helped boost Gastonia's economy include Freightliner LLC, Danaher Tool Group, Curtiss-Wright Controls Engineered Systems and Radici Group, and Advance Auto Parts. The legal industry also has a presence due to the many small law firms and law offices, where competent attorneys devote their day to providing excellent legal services.

Some famous past residents include many NBA players, such as James Worthy, Darrell Armstrong, Eric Floyd, and Hassan Whiteside. Other famous residents have included Evan Karagias, Clyde Caldwell, Thomas Sowell, and Gilly James.

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