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. The process of due diligence uses Federal and Georgia guidelines to protect both parties. If these guidelines are not followed, a party may be found in breach of a legal duty. However, obedience to the process of due diligence leads to a better informed decision about buying the business. And afterwards, it may 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. 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 Mcdonough Attorney Help?
There are unique requirements in Georgia that a party purchasing a business must fulfill. In Mcdonough, an attorney knowledgeable in Georgia law can inform you about the peculiarities of your investment and outline the cheapest way for you to gain control.