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 a traditional 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?
A purchaser of a business in Miami Dade 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 acquired through a process known as "due diligence". Federal and Florida guidelines define the process of due diligence, and occasionally legal consequences arise when these procedures are not followed properly. 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 cost of a business mostly depends on how much ownership stake is required for control. The value of the business property and the type of business are also important factors. 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 Miami Dade County Attorney Help?
In Florida, the law poses requirements for a party purchasing a business to fulfill. An attorney experienced in Florida law practicing in Miami Dade County can help you comply with these laws and acquire control of the business you want to buy as cheaply as possible.