Choosing Representation

To successfully sell your business it is very important that you gather together your team of professionals. You need to have a transaction lawyer who is familiar with business sales. Often times the lawyer who has represented you throughout your business ownership is the best one for the task. Other times, you may want to choose a different lawyer who specializes in business transfers and who is readily available to prepare a review the legal documents. You may want to avoid using a lawyer who is a litigator as so much of there time is spent away from the office at the courthouse.

You will also want to discuss the business sale with your accountant before you put the business on the market. First of all you want them to be prepared to furnish you with up to date financial statements and to get your tax returns done on a timely basis. You will also want to understand the tax ramifications of the sale and to understand the difference in selling the business as a stock sale versus an asset sale.

And of course you want to engage your VR Business Broker to value your business, prepare the marketing of your business, and to bring a qualified buyer to you.