Exiting a Business
Oklahoma City Business Law Attorneys With Over 65 Years of Experience
For many business owners or company executives, there will eventually come the day when it is more profitable or personally advantageous to exit their business. Simmons & Associates, PLLC and our business lawyers in Oklahoma City can help you discover the right way – and avoid the wrong ways – to exit your business. Our goal from the beginning is upholding your best interests while also reducing complications and increasing profitability when applicable.
What Are Common Ways to Exit a Business?
Each business will be different from the next, but business owners of all types will find that there are a few commonly utilized strategies and business actions to exit a business.
At our law firm, we like to sit down with our clients and get a full understanding of:
- Their objectives
- And the state and conditions of their business
With all of this information gathered and all the variables reviewed, we can assist you in deciding what exit strategy would work best for your unique situation.
Three ways to make exiting your business easier or more profitable include:
As a company executive of a publicly traded corporation or business, you may hold a significant amount of stocks in the company, which also serves as a portion of your own financial value. To completely exit your business with a clean slate, you may wish to or be required to sell all of your stocks, either to more public investors or to other executives.
You should speak with our Oklahoma business law attorneys before selling any stocks to ensure doing so does not violate any contracts or trade regulations. You can reach us at (405) 591-2284 for questions and concerns.
Liquidizing a business may be the only way for you to fully exit it, especially in cases where the business is not profitable enough as it is to attract the attention of other entrepreneurs. Selling off assets, such as real estate property and equipment, may be a necessary step and a good way to bring in income at the tail end of your business.
An exciting yet complicated way to exit your business is to complete a merger with another company. Our Oklahoma City business attorneys can help you locate and negotiate with other corporations that may be interested in assuming responsibility of your company through a merger.
Thinking of the Future, Even as You Exit
Exiting your business does not mean you need to cut all ties and burn all bridges. On the contrary, many business owners who voluntarily exit or step away take great strides to ensure the company will continue to thrive after they have left to focus on other ventures or their retirement.
With the business succession lawyers from our Oklahoma City business law firm, you can easily create a viable business succession plan that benefits you, your business, and those who assume control of it.
When considering business succession, we will want to ask:
- Who do you trust with your business today?
- Is that same person already named as your professional successor?
- What needs to be done now as if the changeover was happening tomorrow?
- Are you willing to help your successor after the changeover? If so, how long?
Intelligent Exit Strategies, Compassionate Legal Guidance
Taking the time to officially exit your business should not feel like trying to get out of a tangled net. By retaining the services of our Oklahoma City business lawyers from Simmons & Associates, PLLC, you will put the task of exiting your business into capable, experienced hands and sound legal minds. Where there once could have been complication and frustration, we will work hard to deliver nothing but the best service and guidance.
Advanced Technology to Improve Client Experience
Wherever possible, we incorporate technology to help improve workflows and communication. This helps us maintain efficiency and our stellar quality.
Clients Come First, Customer Service Oriented Approach
Every client is a person with a unique story and situation. We tailor our strategies to align with your goals while also safeguarding your best interests.
We Take a Team Approach to Every Case
We're in this together. We want to hear your thoughts prior to taking a course of action. You also have the full support of our team.
Over 65 Years of Combined Experience on Your Side
Our team has the versatile, in-depth experience to help see your case through from start to finish. We're here to guide you through every step.