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 Vermont 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 St. Albans can lend advice about which offers are worthwhile to consider. The purchaser may want financial records to be updated in accordance with Vermont and Federal law. This may be required by law in some cases, and besides, it always helps in determining the correct 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?
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. A party seeking to purchase a St. Albans 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 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 Vermont law. A local Attorney practicing in St. Albans will be able to advise you about your particular sale.
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.