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 normal 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 Panama City Beach 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. Following the process of due diligence dutifully is the best way to inform oneself for whether to buy a business. Also if the business is eventually bought, transfers of ownership happen much more easily once the process is followed.

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 Panama City Beach Attorney Help?

In Florida, the law poses requirements for a party purchasing a business to fulfill. An attorney knowledgeable in Florida law practicing in Panama City Beach can help you comply with these laws and acquire control of the business you want to buy as cheaply as possible.