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 Utah 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 Nibley can lend advice about which offers are worthwhile to consider. Preparing financial records to comply with Utah and Federal law is necessary and will help determine the proper value for the rights you are selling. As a final step, an agreement for the purchase will be reached, usually in the form of a written contract. It should be reviewed by all parties to ensure that what was agreed upon is accurately presented.

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 can also controls what is done with business property. A party seeking to purchase a Nibley business may not be concerned with all aspects of the company. In fact, purchasers are usually interested in acquiring control as cheaply as possible, and this may allow other rights, including the right to future earnings, to be apportioned or even retained by the seller. 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 advice of a local Attorney practicing in Nibley will make it much easier to ensure the sale of your business is in compliance with Utah law.