Selling a Business in Wisconsin

Find the right Selling a Business attorney in Stevens Point, WI

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 Stevens Point 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. Usually 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?

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 can also controls what is done with business property. The right of control can be separated easily from the business, and this often leads the buyers in Stevens Point 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. Negotiations during the sales process are <span class=hlr>vital</span>, 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 Stevens Point.

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Life in Stevens Point

Stevens Point is the largest city in the county of Portage County, Wisconsin. As the county seat, it has a population of about 25,000 and was incorporated in 1858. The city was named after its founder, George Stevens. Stevens was a supply trade businessman whose store served the numerous loggers in the area.

Geographically, Stevens Point is located in the center of Wisconsin. This makes it an ideal city for both business and residential endeavors. Several large corporations have their headquarters in the city, including the Donaldson Company, Associated Bank, and AIG Travel Guard. Also, the University of Wisconsin- Stevens Point, and Mid-State Technical College are located in the city.

Residents of Stevens Point typically enjoy a wide mix of activities, with a multitude of city services being offered in sports and the arts. Retail and entertainment also form a large part of the city's economy. Festivities include the Portage County Cultural Festival and a Fourth of July Riverfront Rendezvous. A little bit of trivia: the world's largest trivia contest is held every April in Stevens Point, and lasts over 50 hours straight.

Lawyers in Stevens Point, Wisconsin usually file their claims with one of the Wisconsin Municipal Courts, or at the Portage County Circuit Court. Regardless of the type of legal issues, Stevens Point lawyers offer services to address your specific concerns.

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