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 traditional purchase.
There are specific laws in Georgia and the US that concern negotiations, mergers, acquisitions and securities exchanges. You may need to consider how these laws impact your situation before you buy a business.
What Parts of the Business Am I Buying?
Buying a business in Vidalia is gaining the right to direct business operations. When a party directs operations as they see fit, their right is called ?control? of the business. Like ownership, control includes the right to all the property of the business as well as the assumption of the business 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". In the process of due diligence, Federal and Georgia guidelines are used to inform both parties. If there is a deviation from these guidelines, one party may be held legally accountable. Following the process of due diligence faithfully, however, leads to a better informed decision about the purchase of the business. It can also help the ownership transfer to go more smoothly.
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 Vidalia Attorney Help?
There are unique requirements in Georgia that a party purchasing a business must fulfill. In Vidalia, 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.