Buying a Business in Massachusetts
Investing in a business can be advantageous for companies and private parties. The transaction can be complicated, however.
Federal and Massachusetts law concerning mergers, acquisitions, negotiations and securities exchange occasionally come into play during the purchase of a business
What Parts of the Business Am I Buying?
When someone purchases a business in Lawrence, they are actually gaining the right to direct business operations as they see fit. This right is called ?control? of the business. Control entails ownership of all the assets and customer base of the business, but it also includes the responsibility for that company?s debts and liabilities. A complete picture of the financial position of the business is important for the purchaser to make his decision. This picture is acquired through a process called "due diligence". Federal and Massachusetts guidelines are used in the process of due diligence, and not using these guidelines can lead to legal consequences. Following the process of due diligence dutifully is the best way to inform oneself for whether to purchase a business. Also if the business is eventually bought, transfers of ownership happen much more easily once the process is followed.
How Much Will the Business Cost?
How much the right of control will cost depends on how much ownership stake is required. The value of the property of the business might add to the price as well. There are particular laws in Massachusetts that dictate procedure for how the right of control of a company can be transferred and modified, and these procedures may make buying the business cheaper or more expensive, depending on a variety of factors.
How Can a Lawrence Attorney Help?
There are unique requirements in Massachusetts that a party purchasing a business must fulfill. In Lawrence, an attorney experienced in Massachusetts law can inform you about the peculiarities of your investment and outline the cheapest way for you to purchase control.
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