Buying a Business in Florida
Buying a business can be an advantageous investment for both individuals and companies. However, the transaction is much more complicated than a traditional purchase.
Federal and Florida law concerning mergers, acquisitions, negotiations and securities exchange sometimes come into play during the purchase of a business
What Parts of the Business Am I Buying?
A buyer of a business in Marion County gains a right called "control", which is the right to direct the business operations as they see fit. Control involves ownership of the business assets and customers, along with the company's debts. In order to protect the interests of all parties, there must be an accurate and complete picture of the financial position of the business. This picture of the company's financials is gained through a process known as "due diligence". Federal and Florida guidelines define the process of due diligence, and sometimes legal consequences arise when these procedures are not followed properly. Following the process 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?
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. The process for how the right of control can be transferred or modified is defined by specific laws in Florida. Procedures may make buying a business more or less expensive than simply the market value of its assets.
How Can a Marion County Attorney Help?
The laws in Florida place many unique demands on parties seeking to purchase businesses. An attorney in Marion County, Florida 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.