Selling a Business in South Carolina

Find the right Selling a Business attorney in Columbia, SC

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 South Carolina laws concerning mergers, acquisitions, negotiations and securities exchanges that must be followed.

How Do I Sell a Business?

To sell a business there must be an offer, whether it is solicited or not. Purchase agents in Columbia not only help to secure an offer, but also lends advice about which offers are worthwhile to consider. Preparing financial records to comply with South Carolina and Federal law is essential and will help determine the proper value for the rights you are selling. 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. The buyer of a business in Columbia may be interested only in control of the business, and other rights within the company may not be as important. Buyers are typically looking for the cheapest route to control, and this may allow the seller to retain other rights such as the right to future earnings. 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?

South Carolina 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 Columbia.

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Life in Columbia

Columbia, South Carolina is the state capital, and the largest city in the state. It has a population of about 130,000 people. Columbia has a rich history, and has figured prominently in important historical events dating back to before the Civil War. While being occupied by Union troops during the Civil War, much of Columbia was destroyed in a fire. During Reconstruction, as in many Southern states, numerous African Americans were elected to public office in South Carolina, which was a novelty to most Americans at the time. As a result, Columbia experienced a brief tourism boom, as visitors wanted to observe the state legislature in session. Modernly, Columbia, South Carolina is quite diverse in both demographics, and economy. Columbia is a major center for several industries, such as healthcare, manufacturing, insurance, and many others.

Columbia, South Carolina is also home to Fort Jackson, the U.S. Army's largest training facility, which has a major economic impact on the area. Each year, the federal government spends over million for salaries, utilities, and other services (with a significant amount going to local contractors). Furthermore, each year, over 100,000 people visit the area to attend basic training graduation, and patronize the local hotels, restaurants, and retail outlets.

Columbia, South Carolina lawyers need to be competent to handle many different types of cases. If you contact a Columbia, South Carolina lawyer with any type of case, chances are they cantake it, or refer it to another local attorney who can.

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