Selling a Business in Massachusetts

Find the right Selling a Business attorney in Salem, 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 Salem 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 may want financial records to be updated in accordance with Massachusetts and Federal law. This may 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, typically 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 may direct its operations and dispose of its property as it sees fit. Since buyers in Salem are usually concerned with acquiring control, they may be willing to allow other rights, such as the right to future earnings, to remain with the seller in exchange for the cheapest price on the right of control. Because of the wide variety of different concerns buyers may have, negotiations are vital. Each party should voice their intents and concerns during this process.

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 attorney practicing in Salem.

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Life in Salem

Salem is in Essex County of Massachusetts. It is home to Salem State University. In history the city is known because of the Salem Witch Trials of 1692. Today, people visit Salem and check out sites such as the Nathaniel Bowditch House, Salem Common, The Witch House, Derby Square, Pickering House, Salem Willows Park, Ropes Mansion, and Salem Athenaeum.

Tourism is a significant contributor to Salem's economy. There are small law offices where attorneys have established their practice in many areas of law. Therefore, residents can rest assure that their legal needs can be taken care of.

Famous residents of Salem include Rick Brunson, Jeff Juden, Rob Oppenheim, Nathaniel Bowditch, John Endcott, John Hathorne, Bob Vila, Jack Welch, and Steve Thomas.

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