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 Dakota laws concerning mergers, acquisitions, negotiations and securities exchanges that must be followed.

How Do I Sell a Business?

Of course, there must be an interested buyer with an offer in order to sell a business. The job of purchase agents in Williston is not only to acquire an offer, but they also lend advice about which offers should be considered. Deciding 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 Dakota and Federal law. As a final step, an agreement for the purchase will be reached, usually in the form of a written contract. It should be reviewed by all parties to ensure that what was agreed upon is 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 may use the business property as it sees fit. The right of control can be separated easily from the business, and this often leads the buyers in Williston to be less interested in other rights within the company. In fact, buyers regularly leave other rights, such as the right to future earnings, with the sellers so that they can acquire control more cheaply. These particularities make negotiations essential, during which each party should use the opportunity to voice their intentions and concerns.

How Can an Attorney Help?

The law in North Dakota places certain demands on parties who want to sell a business. Lawyers in Williston are qualified to advise you in this process and ensure that the sale is in compliance with the law.