Buying a Business in Arizona
Purchasing a business can be an beneficial investment for both individuals and companies. However, the transaction is much more complicated than a traditional purchase.
Purchasing a business occasionally involves laws concerning mergers, acquisitions, negotiations or securities exchanges. These fields are governed by Arizona and Federal 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. Federal and Arizona guidelines are used in the process of due diligence, and not using these guidelines can lead to legal consequences. However, obedience to the process of due diligence leads to a better informed decision about purchasing the business. And afterwards, it may also help the ownership transfer to go more smoothly.
How Much Will the Business Cost?
The price of a business depends on the value of the ownership stake that is necessary to exert control, and this in turn is determined somewhat by the value of the business property and the type of business. There are particular laws in Arizona 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.
Find a Tucson Lawyer that Specializes in Your Area of Need:
Buying a Business Attorneys and Law Firms in the Largest AZ Cities
Life in TucsonTucson is a major city in Arizona and the county seat of Pima County. With a population of about 548,000, it is the second largest city in Arizona after Phoenix. Tucson is just over 100 miles from Phoenix and about an hour away from the U.S.-Mexico Border.
Often called "The Old Pueblo", Tucson is an attractive mix of traditional southwestern culture and modern innovations. The downtown area of Tucson has retained much of its historic southwest feel. Several downtown buildings such as the Hotel Congress and the Art Deco Fox Theater were constructed in the 1920's. Midtown Tucson also draws many visitors to the city. For example, the University of Arizona is located in midtown, which includes Arizona Stadium as well as the McKale Center.
The tourism industry fuels much of Tucson's economy, with some 3.5 million visitors bringing in over $2 billion a year. Tucson's warm climate attracts many "snowbirds", or winter visitors who often purchase a second home in the city. Popular events for tourists include the Tucson Gem & Mineral Show and the Tucson Folk Festival.
Lawyers in Tucson, Arizona handle most of their cases at the Tucson City Court. Tucson lawyers are available to help you understand the many laws that are unique to the state of Arizona.
How Can a Tucson Attorney Help?
There are unique requirements in Arizona that a party purchasing a business must fulfill. In Tucson, an attorney experienced in Arizona law can inform you about the peculiarities of your investment and outline the cheapest way for you to purchase control.