Selling a Business in Nevada

Find the right Selling a Business attorney in Reno, NV

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 Nevada 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 Reno, purchase agents do more than simply find buyers. They also lend advice about which offers are worthwhile to consider. 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 Nevada and Federal law. A formal contracts will likely be written to solidify the sales agreement. Careful review of this agreement is necessary 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. Since buyers in Reno are generally concerned with acquiring control, they may be willing to allow other rights, such as the right to future earnings, to remain with the seller in exchange for the cheapest price on the right of control. Negotiations during the sales process are essential, and they should be used as an opportunity to voice fully each party's intentions and concerns.

How Can an Attorney Help?

In selling a business, the seller must meet the requirements of Nevada law. A local attorney practicing in Reno will be able to advise you about your particular sale.

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Life in Reno

Reno says it's "the biggest little city in the world." Situated in a high desert valley at the foot of the Sierra Nevada, Reno is the seat of Washoe County and home to 220,500 "Reno-ites." It's the fourth most populous city in the State of Nevada behind Las Vegas, Henderson, and North Las Vegas. Like it's compatriots, Reno is best known as a gambling and entertainment destination. Many residents of the Sacramento Valley, San Francisco Bay Area, Los Angeles, San Diego and Phoenix vacation in Reno. Most tourists visit during the annual festivals like the Hot August Nights classic car festival, the world renown Nugget Rib Cook-off, Reno Air Races and the Great Reno Balloon Race. There are a number of themed resorts like Circus Circus but nearly every hotel and resort has great shows. Reno is home and birthplace of Harrah's Entertainment.

The area of Reno and nearby Sparks is known as "Truckee Meadows." The city covers 69.3 square miles which also includes the Reno Events Center that hosts many concerts. There is a large population of students in Reno because University of Nevada, Reno is there. UNR is the oldest university in the State of Nevada and has a medical program that attracts national attention. Truckee Meadows Community College enrolls about 13,000 students. Nevada School of Law at Old College in Reno was the first law school in Nevada. There are a lot of courts in Reno so you shouldn't be surprised there are a lot of lawyers too. Reno lawyers can practice law throughout Nevada and know how to handle your legal issues.

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