Legal Question in Business Law in Virginia

Selling My LLC Business

I currently have an LLC internet business. I heard that majority of people incorporate so that selling your business would be easier. Since I don't have a corp and I have an LLC, what would be the process that I will need to sell my business, is for example a larger business wanted to buy my business.

Will I need to convert my LLC to a corporation to sell it? What is the process for selling an LLC versus a corporation? Please Advise.


Asked on 1/05/07, 11:44 am

1 Answer from Attorneys
Bernard Dietz Law Offices of Bernard C. Dietz, PC

Re: Selling My LLC Business

You don't necessarily have to convert from an LLC to a corporation to sell your business. The process is typically controlled by your Operating Agreement (which you have, right?). The acquisition can be structured a number of different ways depending on whether you are selling all of the LLC or a portion and depending on whether you are selling the assets of the LLC or the membership interests. If you get an offer to purchase your company, you should retain an experienced attorney immediately to advise you.

Read more
Answered on 1/08/07, 12:30 pm


Related Questions & Answers

More Business Law questions and answers in Virginia