Selling a Business in Ohio

Find the right Selling a Business attorney in Parma, 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?

Of course, there must be an interested buyer with an offer in order to sell a business. The job of purchase agents in Parma is not only to secure an offer, but they also lend advice about which offers should be considered. 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. As a final step, an agreement for the purchase will be reached, normally 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 can use the business property as it sees fit. A party seeking to purchase a Parma business may not be concerned with all aspects of the company. In fact, purchasers are normally 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. These particularities make negotiations vital, during which each party should use the opportunity to voice their intentions and concerns.

How Can an Attorney Help?

Ohio 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 attorney practicing in Parma.

Talk to a Business Law Attorney now!

Life in Parma

Parma, Ohio is a city in Cuyahoga County. It is a suburb of Cleveland. It currently has a population of about 84,000 people.

Parma is located southwest of Cleveland, and directly borders the city. Parma, Ohio was founded in 1826, by settlers from New York. Parma, Ohio was named after a city in New York of the same name, and likely came from the popular fascination with classical Italian culture that existed at the time. Through the rest of the 19th century, Parma remained rural, with its economy largely based on agriculture. Parma saw an explosion in population and economic growth after World War Two, when a major exodus from cities into newly-created residential suburbs was well underway. This was fueled mostly by increased consumer purchasing power created by the economic boom, as well as apprehension about living in major cities during the Cold War.

Modernly, Parma maintains its suburban character, and is largely a bedroom community for Cleveland.

If you live in Parma, Ohio and need an attorney, there's a good chance you'll be able to find one. Parma, Ohio attorneys are very competent and well-rounded. A Parma, Ohio lawyer can probably handle just about any legal issue you might have.

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