Legal Question in Business Law in Arizona

selling my business which is an llc

Iam selling my business which is an llc. I want them to keep the name. What do I do about the llc? Is there some special step necessary? Do they set up their own business identity? When I sell, I want to be done with my llc. What are the steps?

Asked on 10/19/08, 12:25 am

2 Answers from Attorneys

Donald W. Hudspeth The Law Offices of Donald W. Hudspeth, P.C.
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Re: selling my business which is an llc

We can certainly help you to sell the name and close the LLC, but first you need us to secure your interest in the assets of the business by drafting a proper purchase/sale agreement, without which you could lose everything if something goes wrong.

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Answered on 10/20/08, 6:03 pm
F. Gonzalez The Gonzalez Law Office
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Re: selling my business which is an llc

You can do this several ways. You can sell your entire business and they get it all, including the name. Or you can sell the assets, and then close the business, in which case the name will become available to the buyer and the buyer can then register its own business.

If you require assistance, with a Asset Purchase Agreement and/or the closure of your LLC, please feel free to contact me at your convenience.



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Answered on 10/19/08, 6:36 pm

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