Buying a Business in Michigan

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

There are specific 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?

A buyer of a business in Wolverine Lake 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. 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 Michigan guidelines are used in the process of due diligence, and not following 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 purchased.

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 may add to the price as well. There are specific 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 Wolverine Lake Attorney Help?

Michigan poses unique demands that a party purchasing a business must meet. Attorneys practicing in Wolverine Lake are knowledgeable in Michigan law, and can find the cheapest way for you to purchase control of a business.