Buying a Business in Georgia
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 Georgia 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?
If a party wants to direct business operations, the best way is to acquire a right called "control". With control of a business, the party acquires all assets and the customer base of the business, plus it also assumed the company's debts. In order to protect the interests of all parties, there must be an accurate and complete picture of the financial position of the business. This picture of the company's financials is gained through a process known as "due diligence". Federal and Georgia guidelines are used in the process of due diligence, and not following these guidelines can lead to legal consequences. 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 depends on the value of the ownership stake that is necessary to exert control, and this in turn is decided somewhat by the value of the business property and the type of business. The process for how the right of control can be transferred or modified is defined by specific laws in Georgia. Procedures may make buying a business more or less expensive than simply the market value of its assets.
How Can a Buford Attorney Help?
In Georgia, the law poses requirements for a party purchasing a business to fulfill. An attorney knowledgeable in Georgia law practicing in Buford can help you comply with these laws and acquire control of the business you want to buy as cheaply as possible.