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 York 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 Batavia, 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 New York 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. As an agreement for the purchase is reached, normally a formal contract will be written. It is important to review such documents before they are signed so that all aspects of the agreement are presented properly.

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 right of control can be separated easily from the business, and this often leads the buyers in Batavia to be less interested in other rights within the company. In fact, buyers frequently 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?

In selling a business, the seller must meet the requirements of New York law. A local Lawyer practicing in Batavia will be able to advise you about your particular sale.