Selling a Business in Maryland

Find the right Selling a Business attorney in Cambridge, MD

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 Maryland laws that govern mergers, acquisitions, negotiations and securities exchanges.

How Do I Sell a Business?

An offer is the initial step in selling a business, whether you solicit one or simply receive one spontaneously. In addition to securing a prospective buyer, purchase agents in Cambridge can lend advice about which offers are worthwhile to consider. During this process, the financial records must be updated and prepared in strict accordance with Maryland and Federal law. The reliability of these methods is crucial in determining the proper value for the rights you are selling. As a final step, an agreement for the purchase will be reached, usually 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?

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. The buyer of a business in Cambridge may be interested only in control of the business, and other rights within the company may not be as important. Buyers are usually looking for the cheapest route to control, and this may allow the seller to retain other rights such as the right to future earnings. 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?

The advice of a local lawyer practicing in Cambridge will make it much easier to ensure the sale of your business is in compliance with Maryland law.

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Life in Cambridge

Cambridge, Maryland is a city of about 11,000 residents. It is located in Dorchester County.

Cambridge, Maryland was first settled by English settlers in 1684, making it one of the oldest colonial cities in Maryland. After settlement, the area became an important tobacco growing center, and then diversified into other forms of agriculture.

In the mid-1960s, Cambridge, Maryland was a major hub of the American Civil Rights Movement.

Modernly, Cambridge is a relatively quiet, small town. However, in 2002, it received a major economic boost in the forms of tourism, employment, and convention attendance, with the construction of a large Hyatt resort on Chesapeake Bay.

Cambridge is also the beneficiary of a state program designed to revitalize and restore the downtown areas of many cities, returning them to their past place as the heart of a city's business community, because so much business activity has moved to the outskirts of cities.

Cambridge is a 90-minute drive from Baltimore, making it an attractive option for people who want easy access to the excitement of a big city, with the ability to go home to a small town.

Cambridge, Maryland lawyers need to be competent to handle many different types of legal issues. Legal issues can pop up when they're least expected, and often have to be dealt with as quickly as possible. A Cambridge, Maryland lawyer can make sure that this happens.

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