Selling a Business in Massachusetts

Find the right Selling a Business attorney in Gloucester, 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 Gloucester 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. A formal contracts will likely be written to solidify the sales agreement. Careful review of this agreement is imperative so that all concerns voiced during negotiations are accurately presented.

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. The buyer of a business in Gloucester may be interested only in control of the business, and other rights within the company may not be as important. Buyers are typically looking for the cheapest route to control, and this may allow the seller to retain other rights such as the right to future earnings. Negotiations during the sales process are essential, and they should be used as an opportunity to voice fully each party's intentions and concerns.

How Can an Attorney Help?

Parties who want to sell businesses must meet the requirements of Massachusetts law. Ensuring that the sale is proper is much simpler with the advice of a local lawyer practicing in Gloucester.

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Life in Gloucester

Gloucester, Massachusetts is a city located on Cape Ann, in Essex County. According to a 2007 Census estimate, its population is approximately 30,000 people. The area now known as Gloucester was first reached by British settlers in the 1620s. The town of Gloucester was so named in the 1640s (or that's when the first known written reference to the name exists) from a town of the same name en England. The town, thanks to its once-abundant supply of lumber, and its proximity to the ocean, used to be an important shipbuilding center. Though this industry has largely moved elsewhere, it is still an important part of the town's history and culture. It was also once a very important center for commercial fishing, and fishing is still an important component of the local economy. The architecture of Gloucester is quite beautiful, with many sections of the town comprised almost entirely of 100+ year old buildings, giving it the idyllic look distinctive to New England. There are also plenty of lawyers in and around Gloucester, Massachusetts who can handle whatever legal problem you might find yourself facing. New England is home to several exceptional law schools, and, by extension, many exceptional lawyers. If you have a legal issue, a Gloucester, Massachusetts lawyer can help.

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