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Richard, Attorney
Category: Legal
Satisfied Customers: 53721
Experience:  Attorney with 29 years of experience.
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I am considering selling my business to one of my employees.

Customer Question

I am considering selling my business to one of my employees. It is a small world wide manufacturing business of gumball machines. There is a trademark name involved. How do I sell the business and still own the trademark.
Submitted: 4 years ago.
Category: Legal
Expert:  Richard replied 4 years ago.

Good morning. Typically, a sale of a business in structured as a sale of assets of the business rather than a sale of the ownership interest itself so that the purchaser doesn't buy any unknown liabilities. When negotiating the Purchase Agreement, a seller in this situation will want to specifically exclude the trademarked name involved. This may be a critical element of the value of the business and may not be acceptable to the purchaser, but as long as the purchaser is willing to buy the business without the name, as long as the Purchase Agreement and conveyance documents to consummate the purchase exclude the trademarked name, then the seller retains that name.

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