Selling a Business in New Jersey

Find the right Selling a Business attorney in Parsippany, NJ

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. However, selling a business is rarely a simple affair. Parties to the purchase of a business must comply with Federal and New Jersey laws that govern mergers, acquisitions, negotiations and securities exchanges.

How Do I Sell a Business?

The initial step in selling a Parsippany 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. 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 New Jersey and Federal law. A formal contracts will likely be written to solidify the sales agreement. Careful review of this agreement is crucial so that all concerns voiced during negotiations are accurately presented.

What Will I Give Up in the Business?

Essentially, the sale of a business entails the passing of a right known as ?control?. With control of a business, a party might direct its operations and dispose of its property as it sees fit. The buyer of a business in Parsippany 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?

Parties who want to sell businesses must meet the requirements of New Jersey law. Ensuring that the sale is proper is much simpler with the advice of a local lawyer practicing in Parsippany.

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Life in Parsippany

Parsiappny, a.k.a. Parsippany-Troy Hills Township, is located in Morris County, New Jersey. The name stems from the Native American word "parsipanong," which means "the place where the river winds through the valley." In 2006, Money Magazine ranked the city seventeenth amongst The Best Places to Live in the United States. In 2008, the rank increased to thirteenth.

The city is also known because it has been referenced in both television and films. References include the television sitcom Seinfeld, specifically "The Mom Pop Store" episode. Film references include The Ex, Beer League, and The Karate Kid.

Many attorneys practice in Pasippany. These attorneys focus on providing personalized legal services to their clients. Therefore any and every legal need of residents and businesses can easily be handled by the legal force in Parsippany.

Famous residents include Keith Ferris, James Jean, Jeff Koyen, Robert Lazzarini, Johnnie Moran, Joe Orsulak, Angelo Savoldi, and Chris Singleton.

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