Selling a Business in Texas

Find the right Selling a Business attorney in Texas City, 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?

An offer is the first step in selling a business, whether you solicit one or simply receive one spontaneously. In addition to securing a prospective buyer, purchase agents in Texas City can lend advice about which offers are worthwhile to consider. During this process, the financial records must be updated and prepared in strict accordance with Texas and Federal law. The reliability of these methods is crucial in determining the proper value for the rights you are selling. Usually a formal contract will be written as the agreement nears its conclusion. The provisions contained in the contract should present all matters discussed in a fair light, and this requires careful review by both parties.

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 Texas City 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. 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?

Parties who want to sell businesses must meet the requirements of Texas law. Ensuring that the sale is proper is much simpler with the advice of a local attorney practicing in Texas City.

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Life in Texas City

Texas City has a population of 43,000 and is located in Galveston County, Texas. It is one of the busiest deepwater port cities located in the Texas Gulf Coast area. The Port of Texas City is the eighth largest port in the nation and Texas' third largest port.

Texas City's economy has traditionally been supported by both shipping and heavy industry. Industries include petroleum production and petrochemical refining. The Texas City Industrial Complex located in the city is a leading producer in the petrochemical market. Recently city planning has diversified the economy to include other sectors like health care and tourism.

In addition to its industrial presence, Texas City is known for its beautiful parks and wildlife preserves. Many parks are part of the "Great Texas Coastal Birding Trail", where one can see large flocks of birds in spectacular numbers. Favorite parks to visit are Bay Street Park and Nessler Park. Nessler Park is the site for the city's annual "Music Fest by the Bay".

Texas City lawyers can assist you by filing legal claims with the Texas City Municipal Court. The municipal court is authorized to oversee a variety of legal issues. Lawyers in Texas City, Texas provide legal services which meet the unique demands of the city's economy.

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