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 Georgetown not only help to acquire 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 crucial and will help determine the proper value for the rights you are selling. 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 may use the business property as it sees fit. Since buyers in Georgetown are typically 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?

In selling a business, the seller must meet the requirements of South Carolina law. A local Lawyer practicing in Georgetown will be able to advise you about your particular sale.