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 initial step in selling a business is to either receive an offer or solicit one. In Hopewell, 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 crucial and will help determine the proper value for the rights you are selling. A formal contracts will likely be written to solidify the sales agreement. Careful review of this agreement is crucial so that all concerns voiced during negotiations are 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 may also controls what is done with business property. A party seeking to purchase a Hopewell 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. These particularities make negotiations essential, during which each party should use the opportunity to voice their intentions and concerns.
How Can an Attorney Help?
The advice of a local Lawyer practicing in Hopewell will make it much easier to ensure the sale of your business is in compliance with Virginia law.
Another lawyer said my case would take weeks of work and require thousands of dollars of research. Howard pointed to a very fundamental clause in the contract, wrote a letter to termite the contract and dealt with all responses from the opposing parties attorney. Very cut and dry for a fraction of the fees. Highly recommended.
An excellent Attorney with a keen legal mind. He is attentive, responsive and his fees very reasonable!
I understand many lawyers are very busy, But Howard Bender, busy as he is, responded quickly and professionally. My impression is he is a man of his word.
Howard Bender has a wealth of knowledge with trademark contract negotiations. His expertise has helped us move our case forward productively.
This lawyer is the best! He is sharp, grasps everything quickly, and has a friendly approach. He helped me out & all without fighting.