Buying a Business in Maine

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

Federal and Maine 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?

A purchaser of a business in Belfast gains a right called "control", which is the right to direct the business operations as they see fit. Control involves ownership of the business assets and customers, along with the company's debts. Accordingly, the party purchasing a business will want a complete picture of the financial position of the business. Through a process called "due diligence", the financials of the company are disclosed. Through due diligence, federal and Maine guidelines are used to inform both parties, and there may be legal consequences for not following these guidelines properly. However, obedience to the process of due diligence leads to a better informed decision about purchasing 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 procedure for how the right of control can be transferred or modified is defined by particular laws in Maine. Procedures may make buying a business more or less expensive than simply the market value of its assets.

How Can a Belfast Attorney Help?

Maine poses unique demands that a party purchasing a business must meet. Lawyers practicing in Belfast are experienced in Maine law, and can find the cheapest way for you to purchase control of a business.