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 first step in selling a business is to either receive an offer or solicit one. In San Antonio, 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 Texas and Federal law is necessary and will help determine the proper value for the rights you are selling. Lastly, 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 can use the business property as it sees fit. The buyer of a business in San Antonio may be interested only in control of the business, and other rights within the company may not be as important. Buyers are typically looking for the cheapest route to control, and this may allow the seller to retain other rights such as the right to future earnings. Negotiations become vital in light of these particularities, and each party should use negotiations as an opportunity to make plain their intentions and concerns.
How Can an Attorney Help?
The law in Texas places certain demands on parties who want to sell a business. Attorneys in San Antonio are qualified to advise you in this process and ensure that the sale is in compliance with the law.
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