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 normal 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 Youngstown 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. Accordingly, the party purchasing a business will want a complete picture of the financial position of the business. Through a process called "due diligence", the financials of the company are disclosed. The process of due diligence uses Federal and Florida guidelines to protect both parties. If these guidelines are not followed, a party might be found in breach of a legal duty. Following the procedure of due diligence faithfully, however, leads to a better informed decision about the purchase of the business. It can also help the ownership transfer to go more smoothly.

How Much Will the Business Cost?

Control of a business is sold for an amount that is necessary for a party to acquire an ownership stake. The value of the business property and the type of business factor in to determine the exact price. There are particular 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 Youngstown Attorney Help?

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