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 sometimes come into play during the purchase of a business

What Parts of the Business Am I Buying?

A buyer of a business in Camden 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 buying 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. Federal and Maine guidelines are used in the process of due diligence, and not following these guidelines can lead to legal consequences. However, due diligence will lead to a better informed decision concerning whether you want to buy the business. Also, it will help the business to transition more smoothly to new ownership.

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 Maine. Procedures may make buying a business more or less expensive than simply the market value of its assets.

How Can a Camden Attorney Help?

In Maine, the law poses requirements for a party purchasing a business to fulfill. An attorney knowledgeable in Maine law practicing in Camden can help you comply with these laws and acquire control of the business you want to buy as cheaply as possible.