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 a normal 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. 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. Through due diligence, federal and Georgia guidelines are used to inform both parties, and there may be legal consequences for not following these guidelines properly. 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?
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 Georgia. Procedures may make buying a business more or less expensive than simply the market value of its assets.
How Can a Glennville Attorney Help?
There are unique requirements in Georgia that a party purchasing a business must fulfill. In Glennville, an attorney knowledgeable in Georgia law can inform you about the peculiarities of your investment and outline the cheapest way for you to purchase control.