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. The sale can be complicated, however. There are Federal and Wisconsin laws concerning mergers, acquisitions, negotiations and securities exchanges that must be followed.

How Do I Sell a Business?

The first step in selling a Racine County business is soliciting an offer. A purchase agent can help you find prospective buyers, as well as advise you concerning whether offers that you receive are worth consideration. The purchaser may want financial records to be updated in accordance with Wisconsin 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 an agreement for the purchase is reached, usually 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?

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. The right of control can be separated easily from the business, and this often leads the buyers in Racine County to be less interested in other rights within the company. In fact, buyers often leave other rights, such as the right to future earnings, with the sellers so that they can acquire control more cheaply. Negotiations during the sales process are essential, and they should be used as an opportunity to voice fully each party's intentions and concerns.

How Can an Attorney Help?

Wisconsin 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 Racine County.