Selling a Business in Virginia

Find the right Selling a Business attorney in Fairfax, VA

It can be profitable to sell a business, since years of work invested often make it an attractive buy. Being purchased by a competitor or a larger firm is something many businesses look forward to. Nevertheless, the transaction can be complicated. Certain Virginia and Federal laws governing mergers, acquisitions, negotiations or securities exchanges may come into play during the sale of a business.

How Do I Sell a Business?

Obviously, the first step in selling a business is to either receive an offer or solicit one. In Fairfax, 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 Virginia and Federal law is necessary and will help determine the proper value for the rights you are selling. As an agreement for the purchase is reached, normally 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?

Essentially, the sale of a business entails the passing of a right known as ?control?. With control of a business, a party may direct its operations and dispose of its property as it sees fit. Since buyers in Fairfax are typically concerned with acquiring control, they may be willing to allow other rights, such as the right to future earnings, to remain with the seller in exchange for the cheapest price on the right of control. These particularities make negotiations vital, during which each party should use the opportunity to voice their intentions and concerns.

How Can an Attorney Help?

In selling a business, the seller must meet the requirements of Virginia law. A local attorney practicing in Fairfax will be able to advise you about your particular sale.

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Life in Fairfax

Fairfax, Virginia is the county seat of Fairfax County. However, it is an independent city, so it is not technically part of the county in which it is physically located, but is a separate legal entity, over which the county doesn't exercise jurisdiction. It has a population of about 24,000 people. Fairfax, Virginia is part of the Washington, D.C. metropolitan area, and is generally considered a suburb of Washington, D.C. Fairfax is a popular place to live for people who have jobs in D.C., and given the large number of government and private-sector jobs in the Washington, D.C. area, Fairfax is a place that many professionals who are currently having trouble finding work are considering relocating to. Old town Fairfax recently underwent a major redevelopment, adding a new public library, along with tens of thousands of square feet of new retail and restaurant space, and nearly 100 upscale condominium units. There are many lawyers in and around Fairfax, Virginia. A good Fairfax, Virginia lawyer can make it infinitely easier to deal with just about any legal issue a person might face. If you or a loved one needs any legal assistance whatsoever, regardless of the reason, you shouldn't hesitate to contact a Fairfax, Virginia attorney.

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