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 first step in selling a Braintree 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 determine 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, typically 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 can use the business property as it sees fit. Since buyers in Braintree are usually concerned with acquiring control, they may be willing to allow other rights, such as the right to future earnings, to remain with the seller in exchange for the cheapest price on the right of control. These particularities make negotiations vital, during which each party should use the opportunity to voice their intentions and concerns.
How Can an Attorney Help?
In selling a business, the seller must meet the requirements of Massachusetts law. A local attorney practicing in Braintree will be able to advise you about your particular sale.