Moving On, Up or Out: Buying or Selling a Privately Held Business

More than 700,000 businesses change ownership each year, according to the U.S. Small Business Administration. Most are small- and mid-sized businesses. Many factors can lead to the decision to sell a business, such as retirement, partnership disputes, health concerns or new business pursuits. Such transactions do not take place, however, without careful planning and preparation. On April 14, a free seminar is being offered for those considering the purchase or sale of a business. Steve Greenberg, chair of Flaster/Greenberg's Corporate Practice Group, will provide an overview of the sale process, examining how to position a company for sale, assess its value, negotiate a favorable sales agreement and other key documents, and close the deal. Topics include: Establishing negotiation objectives and parameters Letters of intent and other key documents Allocation of purchase price Employee relationships and compensation Valuation Stock vs. asset sales Payment methods Warranties, obligations and liabilities

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