Selling a Business in Washington

Find the right Selling a Business attorney in Kirkland, WA

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 Washington 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?

Of course, there must be an interested buyer with an offer in order to sell a business. The job of purchase agents in Kirkland is not only to secure an offer, but they also lend advice about which offers should be considered. In order to determine the proper value for the rights you are selling, financial records must be updated and prepared to comply with Washington and Federal law. A formal contracts will likely be written to solidify the sales agreement. Careful review of this agreement is necessary so that all concerns voiced during negotiations are 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 Kirkland business may not be concerned with all aspects of the company. In fact, purchasers are typically 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. 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?

The advice of a local attorney practicing in Kirkland will make it much easier to ensure the sale of your business is in compliance with Washington law.

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Life in Kirkland

Kirkland, Washington is a suburb of Seattle, and is located in King County. It has a population of approximately 47,000 people. However, in June of 2011, Kirkland will annex some surrounding unincorporated territory, adding approximately 33,000 residents.

Kirkland was first settled by Peter Kirk in 1886. Kirk saw that the area would be a good location for many industries, including steel production and shipping. Because Kirkland is situated near Lake Washington, which, thanks to the Lake Washington Ship Canal, is directly connected to the Pacific Ocean, it is extremely valuable as an inland harbor.

Kirkland is currently home to several entertainment companies, as well as several software companies, particularly those that specialize in the development of video games. This is a rapidly-growing section of the entertainment industry, and large game companies attract many talented, highly-trained professionals, including programmers, visual artists, and voice actors. As a result, Kirkland is in pretty good economic shape, with just over 5% of the population living below the poverty line, and a median family income of over ,000.

If you live in Kirkland, Washington or the surrounding areas, and need legal services, you're in luck. There are many Kirkland, Washington lawyers who are able to help you with whatever legal issue you may be facing.

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