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 Horry County 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 necessary and will help determine the proper value for the rights you are selling. As an agreement for the purchase is reached, normally a formal contract will be written. It is important to review such documents before they are signed so that all aspects of the agreement are presented properly.

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 Horry County 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. The wide variety of concerns that buyers may have make the negotiations process particularly vital. It's important at the start for each party to make plain their intentions and concerns.

How Can an Attorney Help?

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