Selling a Business in Texas

Find the right Selling a Business attorney in Pasadena, 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?

Obviously, the initial step in selling a business is to either receive an offer or solicit one. In Pasadena, purchase agents do more than simply find buyers. They also lend advice about which offers are worthwhile to consider. Deciding the correct value for the rights you are selling is critical in this process. To do this, financial statements must be updated and prepared to comply with Texas and Federal law. 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?

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 buyer of a business in Pasadena may be interested only in control of the business, and other rights within the company may not be as important. Buyers are usually looking for the cheapest route to control, and this may allow the seller to retain other rights such as the right to future earnings. The wide variety of concerns that buyers may have make the negotiations process particularly vital. It's important at the outset for each party to make plain their intentions and concerns.

How Can an Attorney Help?

Texas 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 lawyer practicing in Pasadena.

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Life in Pasadena

Pasadena, Texas is a city in Harris County. It is the second-largest city in Harris County, and the 15th largest city in Texas.

Before Europeans settled the area now known as Pasadena, several different Native American tribes lived there for thousands of years. Some of the final battles of the Texas Revolution, which resulted in Texas gaining independence from Mexico and becoming (for about ten years) its own country, were fought in the area now occupied by Pasadena. The 1900 hurricane that destroyed Galvaston also damaged Pasadena, but it resulted in a large influx of refugees into Pasadena, some of whom decided to stay. This led to a permanent population increase.

Modernly, Pasadena is home to one of the largest chemical processing complexes in the United States. It is called the Bayport Industrial District, and it is a crucial source of jobs in Pasadena, Texas. It is also home to a major shipping center, which is rapidly expanding the city's economic base.

If you live in Pasadena and are in need of a lawyer, the chances are good that you'll be able to find one. Pasadena, Texas lawyers practice law in a wide variety of legal areas, and will probably be able to take your case, no matter how large or small it is.

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