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January 05, 2019

Business Opportunity

Word of the day

Business Opportunity

Any type of business that is for sale (also called business chance brokerage or simply business brokerage). The sale or lease of the business and goodwill of an existing business, enterprise, or opportunity, including a sale of all or substantially all of the assets or stock of a corporation, or assets of a partnership or sole proprietorship. 

Generally, if real property is an asset of the business, a real estate broker’s license is required to sell the business. Because a broker may not be aware of many of the special problems involved in selling a business, however, the advice of an experienced business counselor or attorney may be appropriate. Both seller and buyer should be aware of the application of the bulk transfer laws on the sale of the business. They should also be aware that, under the Uniform Commercial Code, any contract involving the sale of goods of $500 or more must be in writing to be enforceable.

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