Buying a Business in North Carolina
Purchasing a business can be a worthwhile investment, but whether it is purchased by an individual or another company, the transaction is complicated.
Particular regulations concerning mergers, acquisitions, negotiations or securities exchanges may be implicated when you buy a business. These areas are all governed by Federal and North Carolina law.
What Parts of the Business Am I Buying?
If a party wants to direct business operations, the best way is to acquire a right called "control". With control of a business, the party gains all assets and the customer base of the business, plus it also assumed the company's debts. To make his decision, a purchaser will want a complete picture of the financial position of the business. Through a process called "due diligence", a company's financials become clear. Through due diligence, federal and North Carolina guidelines are used to inform both parties, and there may be legal consequences for not following these guidelines properly. Following the procedure of due diligence faithfully, however, leads to a better informed decision about the purchase of the business. It can also help the ownership transfer to go more smoothly.
How Much Will the Business Cost?
Control of a business is sold for an amount that is necessary for a party to acquire an ownership stake. The value of the business property and the type of business factor in to determine the exact price. The procedure for how the right of control can be transferred or modified is defined by particular laws in North Carolina. Procedures may make buying a business more or less expensive than simply the market value of its assets.
How Can a Burlington Attorney Help?
The laws in North Carolina place many unique demands on parties seeking to purchase businesses. An attorney in Burlington, North Carolina can inform you of the particularities of your investment as it relates to local law, as well as advise you of the least costly route to acquiring control.
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