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 Cortland, purchase agents do more than simply find buyers. They also lend advice about which offers are worthwhile to consider. Preparing financial records to comply with Ohio and Federal law is essential and will help determine the proper value for the rights you are selling. A formal contracts will likely be written to solidify the sales agreement. Careful review of this agreement is essential so that all concerns voiced during negotiations are accurately presented.

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 may direct its operations and dispose of its property as it sees fit. The buyer of a business in Cortland may be interested only in control of the business, and other rights within the company may not be as important. Buyers are normally looking for the cheapest route to control, and this may allow the seller to retain other rights such as the right to future earnings. The wide variety of concerns that buyers may have make the negotiations process particularly vital. It's important at the start for each party to make plain their intentions and concerns.

How Can an Attorney Help?

Parties who want to sell businesses must meet the requirements of Ohio law. Ensuring that the sale is proper is much simpler with the advice of a local Attorney practicing in Cortland.