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 Pasco 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. 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?
The price 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. There are specific laws in Florida that dictate procedure for how the right of control of a company can be transferred and modified, and these procedures may make buying the business cheaper or more expensive, depending on a variety of factors.
How Can a Pasco County Attorney Help?
There are unique requirements in Florida that a party purchasing a business must fulfill. In Pasco County, an attorney knowledgeable in Florida law can inform you about the peculiarities of your investment and outline the cheapest way for you to purchase control.