Other clients may decide to sell their businesses because they are in search of additional resources to grow and remain competitive. Examples of these resources are: capital, professional management, and more advanced technology. These considerations may lead a client to sell a business to a strategic buyer who has the resources and familiarity with the business and industry. In other situations, a client may run into financial or regulatory issues that can lead to the decision to sell. In these cases, timing may be more important than price. Another consideration may also include whether the sellers want to continue working for the buyer or if the sellers want to ensure key employees have jobs.
Sellers often have pride in the business they have worked hard to build over the years. The selling of a business involves a balancing of a seller’s personal interests and the desire to find a buyer that will steer the business in the right direction. Our Chicago corporate attorney will guide clients and help them balance these competing interests.