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?
To sell a business there must be an offer, whether it is solicited or not. Purchase agents in Chappaqua not only help to acquire an offer, but also lends advice about which offers are worthwhile to consider. During this process, the financial records must be updated and prepared in strict accordance with New York and Federal law. The reliability of these methods is necessary in determining the proper value for the rights you are selling. As a final step, an agreement for the purchase will be reached, typically in the form of a written contract. It should be reviewed by all parties to ensure that what was agreed upon is 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 may use the business property as it sees fit. The right of control can be separated easily from the business, and this often leads the buyers in Chappaqua 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. Because of the wide variety of different concerns buyers may have, negotiations are essential. Each party should voice their intents and concerns during this process.
How Can an Attorney Help?
New York 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 lawyer practicing in Chappaqua.