Sell A Business

Our attorneys bill at an hourly rate of $425 – $550, depending on the complexity of the work, and our paralegal staff bills at an hourly rate of $175. Before commencing any work, we first meet with you to determine whether we are a good fit, and, if so, we provide you with an estimate as to the project. Generally speaking, attorney fees for a business sale can range from approximately 1% to 4% of deal value. Businesses in heavily regulated industries tend to require more work due to the need to review additional contracts and to ensure that the sale complies with all regulations governing the business.

Yes, but they are usually minimal, particularly in Oregon where they are typically less than $1,000 at the most, barring any unusual circumstances.

The typical documents usually include a letter of intent, an asset purchase agreement (if an asset sale) or stock purchase agreement (if a stock sale), bills of sale, intellectual property assignment agreements, and any necessary filings that must be made with state authorities. Other documents that are sometimes included, depending on the type of transaction, include a goodwill purchase agreement, lease assignment, consulting agreement, employment agreement, promissory note and security or pledge agreements, and any necessary internal company consent resolutions.

We’ve found that the amount of time to sell a business will depend upon how fast the seller and buyer exchange the information they each need, and also will depend upon how fast they complete their negotiations. We’ve helped clients sell businesses in as fast as 2-3 weeks, while other business sales have taken many months. It really depends on how well the seller and buyer work together and cooperate with each other.

Not necessarily. If you’re more comfortable being represented by a business broker, or you find a broker that you think brings significant value, then you might consider it, but it’s not required. Most business brokers in the Portland, Oregon area charge a commission of 10% on the sale of a business.

We wrote an article entitled How to Sell A Business, which explains more of the details in each of the steps outlined above. Alternatively, if you’d like to speak with us to get your specific questions answered, just click the Contact Us button below.