Selling a Business in Massachusetts

Find the right Selling a Business attorney in Boston, MA

It can be quite profitable to sell a business after years of work. The hopes of one day being acquired by a larger firm are shared by many businesses. However, selling a business is rarely a simple affair. Parties to the purchase of a business must comply with Federal and Massachusetts laws that govern mergers, acquisitions, negotiations and securities exchanges.

How Do I Sell a Business?

The initial step in selling a Boston business is soliciting an offer. A purchase agent can help you find prospective buyers, as well as advise you concerning whether offers that you receive are worth consideration. In order to decide the proper value for the rights you are selling, financial records must be updated and prepared to comply with Massachusetts and Federal law. As an agreement for the purchase is reached, usually a formal contract will be written. It is important to review such documents before they are signed so that all aspects of the agreement are presented properly.

What Will I Give Up in the Business?

The sale of a business is simply the transfer of a right known as "control". The party with control of a business directs its operations and may use the business property as it sees fit. Because the right of control is separable, the buyer of a business in Boston may not be interested in other rights within the company. Actually, control is usually cheaper to purchase without other rights such as the right to future earnings. Sometimes buyers negotiate to allow those right to remain with the seller. Negotiations become essential in light of these particularities, and each party should use negotiations as an opportunity to make plain their intentions and concerns.

How Can an Attorney Help?

The advice of a local lawyer practicing in Boston will make it much easier to ensure the sale of your business is in compliance with Massachusetts law.

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Life in Boston

Boston, Massachusetts is known as the "Capital of New England" because it acts as the center of business, art, food, and culture. Bostonians comprise the 10th largest metropolitan area in the United States. Boston is home to a number of historical attractions like the Boston Tea Party, the Boston Massacre, and the American Revolution museums that offer about billion in revenue for the city.

Furthermore, tourists flock to visit Boston and its colleges: Harvard University, Boston College, Boston University, Massachusetts Institute of Technology (MIT), Tufts University, UMass Boston, and many other business, music, and pharmaceutical institutions of higher learning. Students offer roughly .8 billion to the economy. With so many students, Boston naturally is home to some of the top firms in technology and biotechnology. The city boasts the highest amount of annual funding from the National Institutes of Health.

Boston is home to some outstanding New England based lawyers and law firms. Bostonians are subject to the area's high cost of living making the legal problems of the community somewhat unique. Violent crime has been on the decline since the Boston Police Department and United States Attorney and District Attorney started a crime and gang prevention campaign. Most Boston residents use the Suffolk County courts.

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