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The Complete Guide to Selling a Business

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About the Author

Attorney Fred S. Steingold practices law in Ann Arbor, Michigan. HIs main practice areas are real estate law and business law. He is the author of several Nolo books, including Legal Guide for Starting & Running a Small Business and The Employer's Legal Handbook, and serves on the advisory panel for Nolo's Essential Guide for Buying Your First Home.


"This accessibly written guide for owners of small to mid-sized businesses explains the steps for marketing and selling a business." Reference & Research Book News "Steingold, a business law attorney and author, explains how to sell a small to midsize business. He describes deciding whether or not to sell, timing the sale, preparing for the practical and legal steps, analyzing the tax consequences, setting a realistic price range, and choosing and working with lawyers, accountants, and other professionals; getting ready to sell, including preparing the business, creating a marketing plan, negotiating the price and terms, legally structuring the sale, putting legal protections in place to assure payment in full, investigating the buyer's credentials, and drafting a letter of intent; putting together a sales agreement, including how the buyer will pay, seller responsibility for business liabilities, non-compete agreements, and acceptance of limited-term employment or consulting; how to create other sales documents, including a bill of sale, promissory note, and security agreement; and conducting a smooth closing." Eithne O'Leyne, Editor, Ringgold, Inc. ProtoView "Now in a fully updated fifth edition featuring all the latest tax considerations, "The Complete Guide to Selling a Business" is packed from cover to cover with practical advice and invaluable insights (as well as dozens of key legal forms) shows the non-specialist general reader how to: get a business ready to sell; value assets; set the best price for a business; find the right buyer; anticipate and resolve tax issues; negotiate a payment plan; limit personal liability; work with lawyers, accountants, and brokers; and close the deal and transfer the business to its new owner. Of special note is the provision of 'real world practical' advice on marketing the sale of any kind of business. Impressively informative, exceptionally 'user friendly' in organization and presentation, "The Complete Guide to Selling a Business" is an absolute 'must' as an instructional reference for anyone contemplating the sale of a business and should be a core addition to all community and academic library Contemporary Business Management collections." The Midwest Book Review

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