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 Long View 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. A formal contracts will likely be written to solidify the sales agreement. Careful review of this agreement is essential 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. A party seeking to purchase a Long View business may not be concerned with all aspects of the company. In fact, purchasers are typically interested in acquiring control as cheaply as possible, and this may allow other rights, including the right to future earnings, to be apportioned or even retained by the seller. The wide variety of concerns that buyers may have make the negotiations process particularly vital. It's important at the beginning 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 Long View.