Buying a Business in Florida
Purchasing a business can be an beneficial investment for both individuals and companies. However, the transaction is much more complicated than an usual purchase.
Federal and Florida law concerning mergers, acquisitions, negotiations and securities exchange occasionally come into play during the purchase of a business
What Parts of the Business Am I Buying?
Purchasing a business in Alachua County is gaining the right to direct business operations. When a party directs operations as they see fit, their right is called ?control? of the business. Like ownership, control includes the right to all the property of the business as well as the assumption of the business debts. A complete picture of the financial position of the business is important for the purchaser to make his decision. This picture is acquired through a process called "due diligence". Through due diligence, federal and Florida guidelines are used to inform both parties, and there may be legal consequences for not following these guidelines properly. 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 bought.
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 might add to the price as well. The procedure for how the right of control can be transferred or modified is defined by particular laws in Florida. Procedures may make buying a business more or less expensive than simply the market value of its assets.
How Can a Alachua County Attorney Help?
There are unique requirements in Florida that a party purchasing a business must fulfill. In Alachua County, an attorney experienced in Florida law can inform you about the peculiarities of your investment and outline the cheapest way for you to gain control.