Selling a business can be quite profitable after years of work invested. Many businesses look forward to one day being bought by larger firms. Nevertheless, the transaction can be complicated. Certain Oklahoma and Federal laws governing mergers, acquisitions, negotiations or securities exchanges may come into play during the sale of a business.
How Do I Sell a Business?
An offer is the first step in selling a business, whether you solicit one or simply receive one spontaneously. In addition to securing a prospective buyer, purchase agents in Muskogee can lend advice about which offers are worthwhile to consider. In order to determine the proper value for the rights you are selling, financial records must be updated and prepared to comply with Oklahoma and Federal law. Lastly, an agreement will be reached in the form of a written contract. All parties should review the contract to ensure that it reflects a complete understanding of what the parties have agreed.
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. Because the right of control is separable, the buyer of a business in Muskogee may not be interested in other rights within the company. Actually, control is normally 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. Because of the wide variety of different concerns buyers may have, negotiations are vital. Each party should voice their intents and concerns during this process.
How Can an Attorney Help?
The law in Oklahoma places certain demands on parties who want to sell a business. Attorneys in Muskogee are qualified to advise you in this process and ensure that the sale is in compliance with the law.