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 an usual 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 Palatka 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. To balance the positives and negatives, the party buying a business must get a complete picture of the financial position of the business. Through a process called "due diligence", a buyer gains this understanding. The process of due diligence uses Federal and Florida guidelines to protect both parties. If these guidelines are not followed, a party may be found in breach of a legal duty. However, obedience to the process of due diligence leads to a better informed decision about buying the business. And afterwards, it may also help the ownership transfer to go more smoothly.
How Much Will the Business Cost?
How much a business will cost depends on the type of business, how much ownership stake you need to assert control, and the value of the business property. 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 Palatka Attorney Help?
Florida poses unique demands that a party purchasing a business must meet. Attorneys practicing in Palatka are knowledgeable in Florida law, and can find the cheapest way for you to purchase control of a business.