Selling a Business in Texas

Find the right Selling a Business attorney in Galveston, TX

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 a business is rarely a simple one, however. Federal and Texas laws govern the areas of mergers, acquisitions, negotiations and securities exchanges, and they must be followed for the transaction to have legal effect.

How Do I Sell a Business?

The initial step in selling a Galveston business is soliciting an offer. A purchase agent can help you find prospective buyers, as well as advise you concerning whether offers that you receive are worth consideration. In order to decide the proper value for the rights you are selling, financial records must be updated and prepared to comply with Texas and Federal law. As an agreement for the purchase is reached, usually 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 may use the business property as it sees fit. The right of control can be separated easily from the business, and this often leads the buyers in Galveston to be less interested in other rights within the company. In fact, buyers regularly leave other rights, such as the right to future earnings, with the sellers so that they can acquire control more cheaply. 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 Texas law. A local lawyer practicing in Galveston will be able to advise you about your particular sale.

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Life in Galveston

Galveston is a city in Texas located on the coast, Galveston Island to be exact. Per the 2010 census it has a population of 47,743 people.

The economy thrives off of the health care, shipping and financial industries. However there are many small law offices and firms in Galveston as well. These entities train excellent attorneys to handle various legal matters.

Some sites to be seen in Galvestron are the Mood Gardens, Schlitterbahn Waterpark, Ocean Star Offshore Drilling Rig Museum, the Lone Star Flight Museum, Galvestron Railroad Museum, The Strand, and Seawolf Park.

Some notable residents include William L. Moody Jr., John H. Murhy, Sam Maceo, and Douglas Corrigan.

All in all, although not one of the big cities in Texas, Galveston is a great place to visit and to call home.

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