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 Fitchburg 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. A formal contracts will likely be written to solidify the sales agreement. Careful review of this agreement is essential so that all concerns voiced during negotiations are accurately presented.
What Will I Give Up in the Business?
In selling a business, the buyer gains a right known as "control". Control of a business entitles a party to direct its operations and it can also controls what is done with business property. Since buyers in Fitchburg 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?
The advice of a local Attorney practicing in Fitchburg will make it much easier to ensure the sale of your business is in compliance with Massachusetts law.
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Howard Bender has a wealth of knowledge with trademark contract negotiations. His expertise has helped us move our case forward productively.
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