Selling a Business in Massachusetts

Find the right Selling a Business attorney in Westfield, 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 Westfield 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 an agreement for the purchase is reached, typically a formal contract will be written. It is important to review such documents before they are signed so that all aspects of the agreement are presented properly.

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. Because the right of control is separable, the buyer of a business in Westfield may not be interested in other rights within the company. Actually, control is typically 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. The wide variety of concerns that buyers may have make the negotiations process particularly vital. It's important at the beginning for each party to make plain their 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 lawyer practicing in Westfield.

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Life in Westfield

Westfield is situated in Hampden County, Massachusetts. It is a very historic settlement, being incorporated as a town in 1669 and 1920 as a city. It currently has a population of over 42,000 residents and is considered an important retail and commercial center.

The city of Westfield is home to some of New England's most outstanding attractions. For instance, Stanley Park is a 180-acre site featuring picnic, tennis, and children's play areas. Stanley Park is painstakingly maintained with several floral gardens, arboretums, and fountains. It also has a newly developed area showcasing Early American scenery.

Other points of interest in Westfield include the Amelia Park Ice Rink and the Metacomet-Monadnock Trail. Westfield State University is also located in the city. Westfield's employment and economic growth have overtaken its population growth rate, which is a good indicator of its favorable economic climate. The city's largest areas of employment are in retail, manufacturing, education, and health social services.

Most lawyers in Westfield, Massachusetts file their cases at the Massachusetts District Court Department, Westfield Division. The district court is conveniently located in Westfield and also serves a total 8 other towns. Westfield lawyers offer superb services in a variety of legal fields and practices.

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