Selling a Business in North Carolina

Find the right Selling a Business attorney in Jacksonville, 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. The sale can be complicated, however. There are Federal and North Carolina laws concerning mergers, acquisitions, negotiations and securities exchanges that must be followed.

How Do I Sell a Business?

The first step in selling a Jacksonville 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. Determining the correct value for the rights you are selling is critical in this process. To do this, financial statements must be updated and prepared to comply with North Carolina 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. The buyer of a business in Jacksonville 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. The wide variety of concerns that buyers may have make the negotiations process particularly vital. It's important at the outset for each party to make plain their intentions and concerns.

How Can an Attorney Help?

North Carolina 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 Jacksonville.

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Life in Jacksonville

Jacksonville is part of Onslow County, North Carolina. Per the 2010 census, it has a population of 70,145 people. An interesting fact is that Jacksonville is the youngest city in the United States because its age is only 22.8 years. Jacksonville also has a large military presence, and is home to the United States Marine Corps' Marine Corps Base Camp Lejeune and the Marine Corps Air Station New River.

Some famous people who have been residents are Ryan Adams, Art Bell, Levi Brown, Edward B. Dudley, David Green, Sara Hickman, Marcus Jones, Dian Parkinson, Danielle Peck, and Quincy Monk.

Many attorneys practice in Jacksonville. The attorneys are either solo practitioners or a part of a law firm. Either way, they focus on providing their clients with excellent legal services.

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