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 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 Sarasota 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. Federal and Florida guidelines define the process of due diligence, and sometimes legal consequences arise when these procedures are not followed properly. However, the best informed decision about whether to buy the business can only be obtained through obedience to the due diligence process. Added benefits also include a smoother transition once the business is purchased.
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.
Find a Sarasota Lawyer that Specializes in Your Area of Need:
Buying a Business Attorneys and Law Firms in the Largest FL Cities
Life in SarasotaSarasota, Florida is the county seat of Sarasota County, located on the central Gulf Coast. It has a population of about 53,000 people.
Humans first settled Florida, including the Sarasota area, about 15,000 years ago - not very long after their initial arrival on North America. At that time, sea levels were much lower, and Sarasota would have been about 100 miles inland from the Gulf of Mexico, rather than right on the coast. Europeans first settled the area in the 1600s.
Modernly, Sarasota has been hit hard by the crash of the U.S. housing market. However, it is still regularly visited by tourists, and tourism remains a major sector of its economy. Sarasota is also home to many sites of historic interest, from prehistoric archeological sites, to Civil War forts.
The architectural style prevalent in Sarasota was once so popular that it is now an established architectural style, known as the "Sarasota School" or "Sarasota Modern."
If you live in Sarasota, Florida, and are looking for an attorney, you're in luck. There are many lawyers in Sarasota, Florida who practice many different areas of law. If you need legal advice, a Sarasota, Florida lawyer is the person you should call.
How Can a Sarasota Attorney Help?
Florida poses unique demands that a party purchasing a business must meet. Attorneys practicing in Sarasota are knowledgeable in Florida law, and can find the cheapest way for you to purchase control of a business.