If you are considering or are currently in the process of selling your business, you may be wondering how to navigate the legal aspects of this process. Working with a Sugar land small business attorney can help you achieve a successful sale with reduced risk of complications or setbacks during the transfer. Here are some points to consider when planning to sell your Katy or Sugar Land business.
Shares or Assets?
In some cases, you may wish to sell an interest in your business rather than divesting yourself of the entire business and its assets. Working with a firm that has extensive experience in Katy real estate law can help you manage the intricacies of selling shares or interests in your business. If your company is not incorporated, however, you are limited only to selling the assets of your business. This typically involves a fair amount of preparation to ensure that the process goes smoothly.
If you are planning to sell your business, you will need to perform a little due diligence before the sale. Some of the issues that could interfere with a smooth sale process include the following:
- Debts and financial obligations that have not yet been satisfied
- Unpaid property taxes
- Goodwill and existing relationships
- Intellectual property and confidential customer information
- Inspections and correction of any violations or issues with the property
Retaining the services of a firm with experience in Sugar Land real estate law can ensure that all these factors are managed properly and that your business assets are ready for sale when the time arrives.
Setting a Price
Determining the value of your business is not a simple undertaking. Checking on comparable pricing and values in your area may be difficult, especially if your company serves a niche market or has acquired significant intangible assets over the course of your ownership. Intangible assets may include a base of customers, goodwill and name recognition in your local area. Working with an experienced Katy small business attorney can help you pin down the actual value of your business more effectively, allowing you to attract more potential buyers for your company.
The Katy estate planning professionals at The Law Office of Henry Jakob can provide you with added legal help when selling your small business in our area. We can offer support in navigating the regulatory processes involved in commercial sales and can deliver the proven experience you need to handle all aspects of transferring your business to a new owner. Call us today at 713.640.5700 to discuss your plans with our skilled legal professionals. At The Law Office of Henry Jakob, we are here to serve you.