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 Mexico laws that govern mergers, acquisitions, negotiations and securities exchanges.
How Do I Sell a Business?
Obviously, the first step in selling a business is to either receive an offer or solicit one. In Grants, purchase agents do more than simply find buyers. They also lend advice about which offers are worthwhile to consider. During this process, the financial records must be updated and prepared in strict accordance with New Mexico and Federal law. The reliability of these methods is necessary in determining the proper value for the rights you are selling. Typically 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 Grants may be interested only in control of the business, and other rights within the company may not be as important. Buyers are typically 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 beginning for each party to make plain their intentions and concerns.
How Can an Attorney Help?
New Mexico 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 Grants.