Buying a Business in California
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 California 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. In the process of due diligence, Federal and California guidelines are used to inform both parties. If there is a violation from these guidelines, one party may be held legally accountable. However, due diligence will lead to a better informed decision concerning whether you want to purchase the business. Also, it will help the business to transition more smoothly to new ownership.
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 California. Procedures may make buying a business more or less expensive than simply the market value of its assets.
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Life in Anaheim
Anaheim is a city in the famed Orange County, California. It has the 10th highest population in California and the highest in the entire county. The booming Platinum Triangle is known for the abundance of amenities like 3 theme parks including Disneyland. In fact, the Disneyland Resort is the city's main source of tourism and employment. Some companies with Anaheim headquarters include the Anaheim Memorial Medical Center, AT&T, Banco Popular, the parent company of Carl's Jr. and Green Burrito named CKE Restaurants as well as that of Fisker Automotive. Fisker Automotive currently offers some of the best and most attractive electric cars on the market. Owner and designer Henric Fisker is responsible for the designs of other companies like Aston Martin's DB9 and Vantage as well as James Bond's BMW Z8.
Anaheim is home to the NHL Ducks professional hockey team and the Anaheim Angels professional baseball team who won the world series in 2002. There's also an outstanding convention center that attracts business visitors to Anaheim. Anaheim is a popular Los Angeles suburb because it has a relatively low crime rate and outstanding attractions. The Grove of Anaheim, or "The Grove," is a famous venue that hosts a wide variety of events including music and comedy acts like the Blue Collar Comedy Tour and Rob Zombie. Anaheim is also the home to a number of notable celebrities like Tiger Woods and Gwen Stefani.
Given its rapid population and economic growth, Anaheim, California lawyers are on the cutting edge of emerging legal fields, but also well-versed in the more "classic" legal fields - dealing with legal issues that ordinary people are likely to face. On top of this, Anaheim is a short distance from the University of California, Los Angeles, and the University of Southern California. Each of these universities has a very well-regarded law school, turning out high quality lawyers every year.
If you are in the area, and have a legal issue, you would do well to give an Anaheim, California lawyer a call.
How Can a Anaheim Attorney Help?
In California, the law poses requirements for a party purchasing a business to fulfill. An attorney experienced in California law practicing in Anaheim can help you comply with these laws and acquire control of the business you want to buy as cheaply as possible.