Selling a Business in New York

Find the right Selling a Business attorney in Syracuse, NY

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. The process of selling a business is rarely a simple one, however. Federal and New York laws govern the areas of mergers, acquisitions, negotiations and securities exchanges, and they must be followed for the transaction to have legal effect.

How Do I Sell a Business?

Obviously, the first step in selling a business is to either receive an offer or solicit one. In Syracuse, 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 York 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?

In selling a business, the buyer gains a right known as "control". Control of a business entitles a party to direct its operations and it can also controls what is done with business property. Because the right of control is separable, the buyer of a business in Syracuse may not be interested in other rights within the company. Actually, control is typically cheaper to purchase without other rights such as the right to future earnings. Sometimes buyers negotiate to allow those right to remain with the seller. 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?

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

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Life in Syracuse

Syracuse, New York is the county seat of Onondaga County, New York. It has a population of about 145,000 people.

The first Europeans to settle the Syracuse area were French missionaries, who arrived in 1615. Before and during the Civil War, Syracuse, New York became a major center for the abolitionist movement, and was an important stop in the Underground Railroad. During this period, many Syracuse, New York lawyers who were opposed to slavery helped ensure that the constitutional rights of freed and escaped slaves were protected.

Modernly, Syracuse is home to Syracuse University, which is a major research institution. Syracuse University has a well-known and prestigious law school. Many of its graduates have gone on to become highly successful Syracuse, New York lawyers.

If you are a resident of the Syracuse, New York area, and are facing a legal problem, or believe that your legal rights have been violated, you should not hesitate to speak with a Syracuse, New York attorney as soon as possible.

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