Buying a Business in Georgia
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 Georgia 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?
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 gains 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 acquired through a process known as "due diligence". The process of due diligence uses Federal and Georgia guidelines to protect both parties. If these guidelines are not followed, a party might be found in breach of a legal duty. However, obedience to the process of due diligence leads to a better informed decision about purchasing the business. And afterwards, it may also help the ownership transfer to go more smoothly.
How Much Will the Business Cost?
The cost 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 particular laws in Georgia 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 Dekalb County Attorney Help?
Georgia poses unique demands that a party purchasing a business must meet. Lawyers practicing in Dekalb County are experienced in Georgia law, and can find the cheapest way for you to purchase control of a business.