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 Rochester 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. The purchaser might want financial records to be updated in accordance with Massachusetts and Federal law. This might be required by law in some cases, and besides, it always helps in determining the correct value for the rights you are selling. As a final step, an agreement for the purchase will be reached, normally 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?

Essentially, the sale of a business entails the passing of a right known as ?control?. With control of a business, a party might direct its operations and dispose of its property as it sees fit. The buyer of a business in Rochester may be interested only in control of the business, and other rights within the company may not be as important. Buyers are normally looking for the cheapest route to control, and this may allow the seller to retain other rights such as the right to future earnings. These particularities make negotiations essential, during which each party should use the opportunity to voice their intentions and concerns.

How Can an Attorney Help?

The law in Massachusetts places certain demands on parties who want to sell a business. Lawyers in Rochester are qualified to advise you in this process and ensure that the sale is in compliance with the law.