Selling Your Business in Texas: What You Need to Know 

Selling a business is no small feat, and the process can be even more complicated for those who are selling a business in Texas. Before you make the decision to put your business up for sale, there are certain legal considerations to keep in mind. Here, we at Manfred Law provide an overview of the critical legal factors that must be taken into account when selling your business in Houston, Texas. 

Due Diligence

The due diligence process is a critical aspect of any business sale. The buyer will want to ensure that they are getting what they pay for, so they will likely conduct research into the financials of your company as well as its operations and contracts. As the seller, you should proactively prepare for the due diligence process by gathering all relevant documents and records—including books and financial statements—to provide to potential buyers during their review. This will help facilitate an efficient and thorough due diligence process with minimal disruption to your day-to-day operations. 

Negotiations

Once you have identified a buyer that is interested in purchasing your business, you will need to begin negotiations over the terms of the sale. During this stage, it is important for each party’s interests to be protected through careful negotiation of items such as purchase price, payment terms, warranties and representations included in contracts related to the sale. Having an experienced attorney on your side can be invaluable during this phase of the process since they can help ensure that all terms are negotiated fairly and that any disputes or issues that arise are quickly resolved. 

Closing Process

The closing process marks the end of negotiations between you and the buyer and includes signing final documents related to the sale along with transferring ownership rights—such as stock certificates if applicable—from one party to another. During this stage, it is important to have a knowledgeable attorney present who can review all relevant documents before they are signed and ensure that all parties’ interests are protected throughout this final step in completing your business sale transaction. 

Selling a business is no small feat but taking care of these legal details ahead of time can make the entire process much easier on everyone involved. At Manfred Law, our experienced team is here to guide you through every step of selling your business in Houston or elsewhere within Texas—from prepping for due diligence through negotiations and beyond—so don’t hesitate to contact us with any questions or concerns about selling your business today!