Buying a Business in North Dakota

Buying a business can be a worthwhile investment, but whether it is purchased by an individual or another company, the transaction is complicated.

Buying a business sometimes involves laws concerning mergers, acquisitions, negotiations or securities exchanges. These fields are governed by North Dakota and Federal law.

What Parts of the Business Am I Buying?

The purchase of a business in West Fargo is actually the buying of a right called "control". With this right, a party can direct business operations as it sees fit, it acquires ownership of business assets, and it assumes liability for all business debts. A complete picture of the financial position of the business is important for the buyer to make his decision. This picture is gained through a process called "due diligence". Federal and North Dakota guidelines are used in the process of due diligence, and not following these guidelines can lead to legal consequences. However, the best informed decision about whether to buy the business can only be obtained through obedience to the due diligence process. Added benefits also include a smoother transition once the business is purchased.

How Much Will the Business Cost?

How much the right of control will cost depends on how much ownership stake is required. The value of the property of the business may add to the price as well. There are specific laws in North Dakota that dictate procedure for how the right of control of a company can be transferred and modified, and these procedures may make buying the business cheaper or more expensive, depending on a variety of factors.

How Can a West Fargo Attorney Help?

There are unique requirements in North Dakota that a party purchasing a business must fulfill. In West Fargo, an attorney knowledgeable in North Dakota law can inform you about the peculiarities of your investment and outline the cheapest way for you to purchase control.