How to Sell Your Business
There are several factors that affect the ability to sell your business. Two important aspects you should consider are the timing of the sale and the valuation of the business.
Though you may have plans to sell your business at such time you wish to retire or pursue another endeavor, the reality is that the timing of the sale is not always in your control. Your attorney can work with you on pre-determining a process for the sale of your business upon the occurrence of certain triggering events, including, but not limited to, retirement, death, disability, and a deterioration in the relationship between the owners.
The valuation, or worth, of your business will depend on your industry, location and the state of the market. Determining the value of your business is a tricky process. An attorney, with the assistance of a professional business valuation company, can help guide you through the process.
Before selling, you and your attorney should also:
- Ensure that you have kept up to date with all required filings so your records tell a complete story of the business’ history;
- Decide which type of transaction is the best for your needs;
- Review existing contracts for provisions that affect your future legal obligations or discuss what happens in the event of a change of ownership or control of the business; and,
- Determine the range and health of your intellectual property rights.
Mary Casey
Managing Attorney
PHONE: 508-393-9244
EMAIL: casey@harborlaw.com
Mary Casey is a business law and intellectual property attorney.
Ms. Casey brings over twenty years of senior level technical and management experience in biomedical research, medical and bio-electronic device design and fiber optic and computer technology. The combination of hands-on technical experience and legal expertise gives Ms. Casey a unique understanding of her clients' business issues and needs which makes her an effective counselor.
Find out more about issues in our related practice areas.
Business Law
Starting a Business
Buying a Business
Selling a Business
Business Contracts
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