Strategies for selling a business

Maryland businesses owners and residents may be aware of the recent trend towards acquisition of companies at all levels. Mergers and purchases are increasingly common from very small to very large businesses as companies take advantage of growth trends in the economy to buy up other companies. Because of these trends, business prices are currently 30 percent higher than they were in 2011.

Many small business owners might wonder about the process of selling a company to another business. It is essential to prepare correctly for the sale, which might include an accurate assessment of the company, and it is also important to create an exit strategy that provides for certain considerations, including how taxes might be levied on potential profits from the sale.

When preparing for the sale, it might be important to evaluate the business and discuss whether the current ownership wishes to remain involved in the corporation. It is also important to consider the timing of the deal and the financial expectations of all the parties involved. Understanding a potential buyer’s interests is important as well. Keeping relevant information on selling points such as the value of intellectual property or human talent that might be included in the sale might help a transaction proceed more smoothly.

Because of the number of factors that can affect a sale, it might be important for a potential seller and buyer to retain the services of independent legal counsel. An attorney could represent a client and protect his or her interests during negotiations with the other party. In addition, an attorney who is familiar with business transactions might be able to help a client review the relevant documentation.

Source: Forbes, “Is It Time To Sell Your Business? 4 Strategies For A Successful Sale“, Michael Evans, July 10, 2014

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