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 initial step in selling a business is to either receive an offer or solicit one. In Washoe County, purchase agents do more than simply find buyers. They also lend advice about which offers are worthwhile to consider. The purchaser might want financial records to be updated in accordance with Nevada and Federal law. This might be required by law in some cases, and besides, it always helps in determining the correct value for the rights you are selling. Finally, an agreement will be reached in the form of a written contract. All parties should review the contract to ensure that it reflects a complete understanding of what the parties have agreed.
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 buyer of a business in Washoe County 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. 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?
Parties who want to sell businesses must meet the requirements of Nevada law. Ensuring that the sale is proper is much simpler with the advice of a local Lawyer practicing in Washoe County.