Selling a Business in Ohio

Find the right Selling a Business attorney in Akron, OH

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 Ohio 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 Akron, 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 Ohio and Federal law. 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?

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. A party seeking to purchase an Akron business may not be concerned with all aspects of the company. In fact, purchasers are typically interested in acquiring control as cheaply as possible, and this may allow other rights, including the right to future earnings, to be apportioned or even retained by the seller. Negotiations become vital in light of these particularities, and each party should use negotiations as an opportunity to make plain their intentions and concerns.

How Can an Attorney Help?

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

Talk to a Business Law Attorney now!

Life in Akron

Akron is the fifth largest city in Ohio. It is located in Summit County, near the Great Lakes area. In fact, Akron is about 40 miles from Lake Erie.

Some popular sites include the Cuyahoga Falls, the All-American Bridge, the Goodyear Polymer Center, and the All-American Soapbox Derby.

Interestingly, in 2001, Akron was named fifth on the list of "high tech havens" by Newsweek. It has also been awarded as one of the "World's Most Livable Cities," by the National Civic League.

Top employers include Goodyear, The Kelly-Springfield Tire Company, GOJO, A. Schulman, FirstMerit Bank, and Bridgestone. Of course, to support these businesses, and local residents, Akron has a very competent legal force. Many attorneys practice law and devote themselves to providing excellent legal services.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Howard B.
Howard B.

Business - Litigation

Rye Brook, NY

Mark B.
Mark B.

Business - Litigation

Roseland, NJ

David A.
David A.

Business - Litigation

Walnut Creek, CA