Selling a Business in Massachusetts

Find the right Selling a Business attorney in Lawrence, 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 Lawrence 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. Deciding the correct value for the rights you are selling is critical in this process. To do this, financial statements must be updated and prepared to comply with Massachusetts and Federal law. As a final step, an agreement for the purchase will be reached, usually in the form of a written contract. It should be reviewed by all parties to ensure that what was agreed upon is 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 Lawrence may be interested only in control of the business, and other rights within the company may not be as important. Buyers are usually 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?

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

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Life in Lawrence

Lawrence, Massachusetts is a city located in Essex County. According to a 2007 Census estimate, Lawrence has a population of about 70,000 people. Along with Salem, Lawrence is the county seat of Essex County.

Lawrence, Massachusetts was first founded in 1640, as an English settlement. During the industrial revolution, which went on from the mid-1800s to the early 20th century, Lawrence grew rapidly.

Lawrence quickly became home to many large and productive textile mills. However, like many cities during the industrial revolution, Lawrence underwent significant growing pains. In 1912, a mill collapsed, and killed over 140 workers. This, along with many other factors, such as sub-standard working conditions and low pay, led to a strike by over 25,000 workers, now known as the Bread and Roses Strike, which has since become a rallying cry for many workers' rights organizations.

In the 1950s, Lawrence saw a decline in many of its traditional industries, which led to a period of economic hardship. However, its economy is currentlyseeing some improvement, witha sharp decrease in violent crime, and a spike in private investment, with many investors purchasing the many old mill and factory buildings.

If you live in or near Lawrence, Massachusetts, chances are very good that you'll be able to find a good lawyer. Lawrence, Massachusetts lawyers have to deal with a wide variety of cases, and as a result, tend to be well-rounded.

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