Buying a Business in Kentucky

Investing in a business can be beneficial for companies and private parties. The transaction can be complicated, however.

There are Federal and Kentucky laws concerning mergers, acquisitions, negotiations and securities exchange that may impact the purchase of a business.

What Parts of the Business Am I Buying?

The purchase of a business in Erlanger is actually the buying of a right called "control". With this right, a party can direct business operations as it sees fit, it acquires ownership of business assets, and it assumes liability for all 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". Federal and Kentucky guidelines define the process of due diligence, and sometimes legal consequences arise when these procedures are not followed properly. 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?

How much a business will cost depends on the type of business, how much ownership stake you need to assert control, and the value of the business property. The process for how the right of control can be transferred or modified is defined by specific laws in Kentucky. Procedures may make buying a business more or less expensive than simply the market value of its assets.

How Can a Erlanger Attorney Help?

There are unique requirements in Kentucky that a party purchasing a business must fulfill. In Erlanger, an attorney knowledgeable in Kentucky law can inform you about the peculiarities of your investment and outline the cheapest way for you to gain control.