Selling a Business in Massachusetts

Find the right Selling a Business attorney in Plymouth, 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 Plymouth 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. 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?

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 Plymouth may not be interested in other rights within the company. Actually, control is normally 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 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?

Massachusetts law places certain requirements on parties selling a business. Making the sale run properly and smoothly is much easier with the advice of a local attorney practicing in Plymouth.

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Life in Plymouth

Plymouth is best known for being the location of the First Thanksgiving Feast and the capital of Plymouth colony, settled in 1620. It's wrought with Pilgrim history and is considered the oldest continuously inhabited English settlement. Plymouth was one of the country's first settlements and attracts tourists to destinations like Plymouth Rock. There's an influx of visitors during the Thanksgiving holiday, schools and families alike. Today, Plymouth is one of two Plymouth County seats and home to 59,000 residents. Jordan Hospital, a major regional medical center, is the largest employer in the city. Aside from tourism, Plymouth has seen a great boom in their research and telecommunications industries. Plymouth is also home to the only nuclear power plant in Massachusetts, the Pilgrim Nuclear Generating Station.

To accommodate the high number of tourists, there are lots of outstanding restaurants and accommodations. The lucky folks who get to move to Plymouth often seek out The Pinehills, a private residential development with two golf courses, a country club, and shopping village. For the children of residents, The Plymouth School System is the largest in Massachusetts with an enrollment of over 8,000 and the First Student Bus Company to provide transportation. Plymouth is host to many other convenient methods of transportation including rail, airport, highway, and ferry services to nearby municipalities. Plymouth is popular among professionals like lawyers. Plymouth lawyers are familiar with local courts and advising on a wide variety of legal matters. Many local lawyers are licensed to practice in a number of local New England states.

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