{"appState":{"pageLoadApiCallsStatus":true},"articleState":{"article":{"headers":{"creationTime":"2016-03-26T07:13:28+00:00","modifiedTime":"2023-04-18T21:10:12+00:00","timestamp":"2023-04-19T00:01:03+00:00"},"data":{"breadcrumbs":[{"name":"Academics & The Arts","_links":{"self":"https://dummies-api.dummies.com/v2/categories/33662"},"slug":"academics-the-arts","categoryId":33662},{"name":"Law","_links":{"self":"https://dummies-api.dummies.com/v2/categories/33712"},"slug":"law","categoryId":33712},{"name":"Small Business Law","_links":{"self":"https://dummies-api.dummies.com/v2/categories/33717"},"slug":"small-business-law","categoryId":33717}],"title":"Legal Considerations for Selling Your Business","strippedTitle":"legal considerations for selling your business","slug":"know-the-legal-requirements-to-exit-your-small-business","canonicalUrl":"","seo":{"metaDescription":"When you're exiting (that is, selling) your small business, you need to know what's required legally. 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Like an over-heated decathlete you can't stop extra disciplines being added to your list of events, including:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\">Raising lots more money for significant growth</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Creating exponential growth through partnerships and joint ventures</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Buying or merging with other firms</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Repeating previous stages of the business with other products (diversifying)</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Preparing the business for expansion or sale</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Selling shares or assets</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Exiting the business</p>\r\n</li>\r\n</ul>\r\nWhen plotting your path to blazing success, take note of this checklist of legal issues to consider:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\">Implementing significant \"A\" or \"B\" funding rounds</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Entering joint venture agreements with other partners</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Constructing acquisition or merger agreements with target companies</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Implementing legal steps from previous stages of your business's growth for new diversified products</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Dealing with terms sheets and any buyer's due diligence</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Contracting to sell all or part of the business as shares or assets</p>\r\n</li>\r\n</ul>","description":"When you're exiting (that is, selling) your small business, you need to know what's required legally. 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Legal Considerations for Selling Your Business

By: Clive Rich and

Updated: 04-18-2023

From The Book: Law for Small Business For Dummies - UK

Law for Small Business For Dummies - UK

Book image

Explore Book Buy On Amazon

When you're exiting (that is, selling) your small business, you need to know what's required legally. At last — the finishing line is in sight. Like an over-heated decathlete you can't stop extra disciplines being added to your list of events, including:

Raising lots more money for significant growth
Creating exponential growth through partnerships and joint ventures
Buying or merging with other firms
Repeating previous stages of the business with other products (diversifying)
Preparing the business for expansion or sale
Selling shares or assets
Exiting the business

When plotting your path to blazing success, take note of this checklist of legal issues to consider:

Implementing significant "A" or "B" funding rounds
Entering joint venture agreements with other partners
Constructing acquisition or merger agreements with target companies
Implementing legal steps from previous stages of your business's growth for new diversified products
Dealing with terms sheets and any buyer's due diligence
Contracting to sell all or part of the business as shares or assets

About This Article

This article is from the book:

Law for Small Business For Dummies - UK ,

About the book author:

Clive Rich is a lawyer, mediator, arbitrator and negotiator. He is Chairman of LawBite, an online legal service providing 'Simple Law for Small Companies' (www.lawbite.co.uk).

This article can be found in the category:

Small Business Law ,