Buying a Business in Maine

Investing in a business can be advantageous 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?

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. 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 acquired through a process known as "due diligence". Federal and Maine 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?

How much the right of control will cost depends on how much ownership stake is required. The value of the property of the business might add to the price as well. 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 Lisbon Attorney Help?

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