Selling a Business in Pennsylvania

Find the right Selling a Business attorney in Scranton, PA

Selling a business can be quite profitable after years of work invested. Many businesses look forward to one day being bought by larger firms. The sale can be complicated, however. There are Federal and Pennsylvania laws concerning mergers, acquisitions, negotiations and securities exchanges that must be followed.

How Do I Sell a Business?

An offer is the initial step in selling a business, whether you solicit one or simply receive one spontaneously. In addition to securing a prospective buyer, purchase agents in Scranton can lend advice about which offers are worthwhile to consider. The purchaser might want financial records to be updated in accordance with Pennsylvania and Federal law. This might be required by law in some cases, and besides, it always helps in determining the correct value for the rights you are selling. Finally, 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 may use the business property as it sees fit. Since buyers in Scranton are generally concerned with acquiring control, they may be willing to allow other rights, such as the right to future earnings, to remain with the seller in exchange for the cheapest price on the right of control. Negotiations during the sales process are essential, and they should be used as an opportunity to voice fully each party's intentions and concerns.

How Can an Attorney Help?

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

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Life in Scranton

Scranton is located in the northeast region of Pennsylvania. It is in Lackawanna County, with a population of 76,089 people.

An interesting fact is that Scranton is one of the largest former anthracite coal mining communities. Other such communities include Wilkes-Barre, Pittston, and Carbondale.

Some popular attractions include the Scranton Iron Furnaces, The Elecric City Trolley Museum, The Lackawanna Coal Mine at McDade Park, Everhart Museum, Terency Powderly's House, The Houdini Museum, Sno Mountain Ski Resort, and the Masonic Temple.

Scranton is also home to many law offices and small firms that provide legal services in all areas. Residents and businesses can therefore remain rest assured because they do not need to travel far for their legal matters to be handled.

Past famous residents include Bob Degen, Judy McGrath, Alex Grass, Bill O'Reilly, B.F. Skinner, Melanie Smith, and Lizabeth Scott.

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