![]() Developing or reviewing the business’s operations manual to ensure it accurately outlines key operational processes and procedures.Ĭonsider visiting with the experienced business attorneys at Von Rock Law for assistance with organizing your legal documentation and understanding all legal matters related to the sale of your business.Working with a business attorney to review all legal matters and related documents, such as employment and lease contracts and business licensing and registration requirements.Creating a list of assets that will be included in the sale of the business, including inventory, equipment, real estate, and intellectual property.Working with an accountant to gather and review the business’s financial and tax statements for the last five years.Organizing documentation may involve the following: This may involve reviewing the business’s finances, legal matters, and operational procedures, for which proper documentation is required. Therefore, they will perform due diligence with respect to investigating all aspects of the business before making a decision. Potential buyers are looking for evidence of a financially viable company both now and in the future. Organize All Legal and Financial Documentation Employing contractors to fix any maintenance issues or environmental hazards.Hiring a health and safety auditor to review the business’s compliance with local health and safety regulations.Hiring a professional environmental auditor to review the business’s compliance with environmental regulations.Working with an accountant or attorney to resolve tax, financial or legal issues.A business owner should therefore identify any unresolved issues in the business and work to resolve them as soon as possible. Potential buyers will be discouraged by unresolved financial, legal, environmental, or other issues that exist in the business. Resolve Any Existing Issues in the Business A broker will also guide the business owner through the business valuation, negotiation, and due diligence processes. Business broker – to find an ideal buyer and obtain maximum value in the sale of the business.Attorney – to provide legal advice and guidance through the sales process.Accountant – to assist with recording and gathering the business’s financial information in line with legal and tax requirements.Therefore, professional advisors can help ensure your legal and financial rights are protected from the beginning of the business sale process. ![]() Selling a business is a complex legal and financial process that requires specialized knowledge in various fields. Obtaining a business valuation from a professional provides a good starting point for calculating a fair asking price.Ĭonsider Hiring a Team of Professional Advisors
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