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 an usual 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. A complete picture of the financial position of the business is important for the purchaser to make his decision. This picture is acquired through a process called "due diligence". Federal and Georgia guidelines are used in the process of due diligence, and not using these guidelines can lead to legal consequences. However, the best informed decision about whether to buy the business can only be obtained through obedience to the due diligence process. Added benefits also include a smoother transition once the business is bought.
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 procedure for how the right of control can be transferred or modified is defined by particular laws in Georgia. Procedures may make buying a business more or less expensive than simply the market value of its assets.
How Can a Rome Attorney Help?
In Georgia, the law poses requirements for a party purchasing a business to fulfill. An attorney experienced in Georgia law practicing in Rome can help you comply with these laws and acquire control of the business you want to buy as cheaply as possible.