Selling a Business in Virginia

Find the right Selling a Business attorney in Roanoke, 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?

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 Roanoke can lend advice about which offers are worthwhile to consider. In order to determine the proper value for the rights you are selling, financial records must be updated and prepared to comply with Virginia and Federal law. Normally 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?

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. The right of control can be separated easily from the business, and this often leads the buyers in Roanoke to be less interested in other rights within the company. In fact, buyers generally leave other rights, such as the right to future earnings, with the sellers so that they can acquire control more cheaply. Because of the wide variety of different concerns buyers may have, negotiations are vital. Each party should voice their intents and concerns during this process.

How Can an Attorney Help?

Virginia law places certain requirements on parties selling a business. Making the sale run properly and smoothly is much easier with the advice of a local attorney practicing in Roanoke.

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Life in Roanoke

Roanoke is considered the tenth-largest city in Virginia, with an approximate population of 97,000 people. It is located specifically in southwest Virginia, near Salem, Botetourt, Craig, and Franklin.

Top employers include Carilion Clinic, Wal-Mart, Anthem Blue Cross, and the school districts. The legal industry too has a presence via the attorney residents who practice law in small boutique firms or law offices. Thus, residents of Roanoke remain assured that their legal needs can be adequately handled.

Some nicknames of the city include "Star City," The Older Magic City," "Big Lick," and "Capital of the Blue Ridge."

Celebrity residents have included Tony Atlas, Tai Collins, Curtis Staples, John St. Clair, and J.J. Redick.

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