Selling a Business in Tennessee

Find the right Selling a Business attorney in Jackson, TN

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 process of selling your business can be complex, however. Federal and Tennessee laws over mergers, acquisitions, negotiations and securities exchanges may be important in the transaction.

How Do I Sell a Business?

Obviously, the initial step in selling a business is to either receive an offer or solicit one. In Jackson, purchase agents do more than simply find buyers. They also lend advice about which offers are worthwhile to consider. Preparing financial records to comply with Tennessee and Federal law is imperative and will help determine the proper 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?

In selling a business, the buyer gains a right known as "control". Control of a business entitles a party to direct its operations and it may also controls what is done with business property. Since buyers in Jackson 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. 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?

The law in Tennessee places certain demands on parties who want to sell a business. Lawyers in Jackson are qualified to advise you in this process and ensure that the sale is in compliance with the law.

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Life in Jackson

Jackson is located in Madison County, Tennessee. Per the 2010 census, it has a population of 65,211 people.

Some interesting facts about Jackson are that the popular Hub City Hurricanes played in Jackson in 2007. From 1990-2011 the city hosted the NAIA Women's Division I National Championship basketball tournament. Also, the West Tennessee Healthcare Sportsplex hosts many tournaments throughout the year; it is a travel baseball and softball complex.

Some famous residents include Carl Perkins, Casey Jones, Lauren Pritchard, Christopher Jones, Gil Scott-Heron, and Sonny Boy Williamson.

Jackson is also home to many law offices and firms that train attorneys to practice in all areas of law. Thus, residents do not need to travel far to receive excellent legal services.

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