Selling a Business in Massachusetts

Find the right Selling a Business attorney in New Bedford, 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 first step in selling a New Bedford 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. Determining 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. Usually a formal contract will be written as the agreement nears its conclusion. The provisions contained in the contract should present all matters discussed in a fair light, and this requires careful review by both parties.

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. Because the right of control is separable, the buyer of a business in New Bedford 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 vital 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 attorney practicing in New Bedford will make it much easier to ensure the sale of your business is in compliance with Massachusetts law.

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Life in New Bedford

New Bedford, Massachusetts houses a population of over 100,000 residents. And that's not all New Bedford is home to, the city is also the number one fishing port in America, in addition to being the world's most famous whaling era seaports. The strategic locationright onthe water makes the city a natural seaport, and wonderful place for the commercial or leisure fisherman to take advantage of.

In addition to many parks and shops located in the city's historic district, New Bedford has whaling museum to commorate the city's role in whaling. Fishing and manufacturing are the two largest industries in New Bedford, although tourism is also on the rise.

New Bedford is also home to some of the state's top lawyers. New Bedford lawyers and other professionals enjoy the wonderful work and lifestyle that the east coast city has to offer, and are trained to assist their client in any issue he or she may find themself facing. New Bedford's location fifty one miles south of the state capital of Boston, makes it a very easy city to visit and enjoy. New Bedford also enjoys a thriving arts and music movement in recent times, that is home to many lively festivals and concerts for their residents and visitors to take part in.

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