Buying a Business in Michigan

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

There are particular laws in Michigan 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?

When someone purchases a business in Muskegon Heights, they are actually gaining the right to direct business operations as they see fit. This right is called ?control? of the business. Control entails ownership of all the assets and customer base of the business, but it also includes the responsibility for that company?s debts and liabilities. A complete picture of the financial position of the business is important for the purchaser to make his decision. This picture is acquired through a process called "due diligence". The process of due diligence uses Federal and Michigan guidelines to protect both parties. If these guidelines are not followed, a party might be found in breach of a legal duty. Following the procedure 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?

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. There are particular laws in Michigan that dictate procedure for how the right of control of a company can be transferred and modified, and these procedures may make buying the business cheaper or more expensive, depending on a variety of factors.

How Can a Muskegon Heights Attorney Help?

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