Business Acquisition and Sales
Buying or selling a business in Massachusetts is a significant investment that requires careful planning and professional legal guidance. Bross Law, LLC provides end-to-end support for every stage of the acquisition or sale, protecting your interests and ensuring a seamless transaction process.
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Acquisition & Sales Services
Free & Flexible Consultation:
Discuss your goals and concerns with us. Our consultations are convenient and fully remote, with phone, video, and email options to fit your schedule.
Legal Support for Each Stage of the Transaction:
Whether you’re buying or selling, we offer expert guidance to make each phase of the process smooth and transparent.
We help with:
Bross Law, LLC assists clients with the following aspects of business acquisition and sales:
- Letter of Intent (LOI) Drafting and Negotiation
- Due Diligence
- Purchase and Sale Agreement
- Licenses and Permits
- Entity Setup for New Owners
- Employee Contract Drafting
- Closing the Transaction
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Let’s discuss your legal support needs for your business.
Why Choose Bross Law?
About Us
Fees & Packages
Bross Law, LLC provides world-class legal services at a rate that is a fraction of the business attorney fees charged for comparable legal services at big Boston law firms.
Affordable, Expert Service
Frequently Asked Questions
What is the purpose of due diligence in a business purchase?
Due diligence allows buyers to examine a business’s financial, legal, and operational details before finalizing the purchase. For sellers, preparing due diligence materials demonstrates transparency, can expedite the sale, and helps reduce the risk of post-sale issues.
How is a Letter of Intent different from a Purchase and Sale Agreement?
A Letter of Intent (LOI) outlines preliminary terms for the transaction and is generally non-binding. The Purchase and Sale Agreement (PSA) is a binding document that formalizes all terms and conditions of the transaction.
What are the most common documents required in a business acquisition or sale?
Common documents include the LOI, PSA, non-compete agreements, confidentiality agreements, employee contracts, financial statements, leases, licenses, and intellectual property agreements.
How do third parties like vendors or banks impact the transaction?
Third parties, such as vendors, banks, and landlords, may require approvals for contract assignments, lease transfers, or financing. We work to coordinate these parties to streamline the process.
How are licenses and permits transferred in a business sale?
Transfers depend on the license type and regulations. Some licenses can be transferred directly, while others may require reapplication by the buyer. Bross Law assists in securing necessary approvals to ensure compliance.
Can I finance the purchase of a business, and what options are available?
Yes, financing options include bank loans, Small Business Administration (SBA) loans, and seller financing, where the seller agrees to accept payment in installments. Each option has unique terms and should be carefully reviewed.
What is the purpose of a non-compete agreement when buying a business?
A non-compete agreement prevents the seller from starting a competing business nearby. This protects the buyer’s investment and helps secure the customer base.
What’s the difference between an asset sale and a stock sale?
In an asset sale, specific assets of business are sold to the buyer, while a stock sale involves the purchase of the company’s shares, which includes ownership of all assets and liabilities.
How long does the acquisition/selling process usually take?
The timeline varies but typically ranges from a few months to six months, depending on factors like due diligence, financing, and negotiation.
How can I make sure my trade secrets are protected during the transaction?
A confidentiality or non-disclosure agreement (NDA) prevents potential buyers from sharing sensitive information. This agreement ensures proprietary data is only used for the transaction’s purposes.
Can I sell only part of my business?
Yes, you can sell specific assets, product lines, or shares in your business. This approach allows business owners to meet specific financial goals or reduce involvement while retaining part ownership.
What is the purpose of preparing for due diligence as a seller?
Preparing due diligence materials allows you to present a clear and accurate picture of your business. It demonstrates transparency and helps expedite the sale by providing the buyer with essential information upfront.
Do I need a lawyer if I already have a buyer lined up?
What are the legal fees for business acquisition or sales transactions?
Legal fees vary based on the transaction’s complexity and size. Bross Law, LLC can provide a custom quote based on your transaction.
What happens if issues arise at the closing stage?
If last-minute issues occur, such as financing problems or contract disputes, a lawyer can negotiate adjustments or delay the closing if needed. Bross Law, LLC is prepared to address any challenges for a smooth closing process.
Why should I choose Bross Law, LLC for my business acquisition or sale?
With extensive experience in business law, Bross Law, LLC provides personalized service, competitive rates, and remote consultations to make the process smooth and stress-free. We guide clients through each stage with clear, actionable advice.
Get a Free 30-Minute Legal Consultation
Let’s discuss your legal support needs for your business.