Buying a Business in Mississippi
Buying a business can be a worthwhile investment, but whether it is purchased by an individual or another company, the transaction is complicated.
Specific regulations concerning mergers, acquisitions, negotiations or securities exchanges may be implicated when you buy a business. These areas are all governed by Federal and Mississippi law.
What Parts of the Business Am I Buying?
The purchase of a business in Harrison County is actually the buying of a right called "control". With this right, a party can direct business operations as it sees fit, it acquires ownership of business assets, and it assumes liability for all business debts. A complete picture of the financial position of the business is important for the buyer to make his decision. This picture is gained through a process called "due diligence". Federal and Mississippi 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?
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. The process for how the right of control can be transferred or modified is defined by specific laws in Mississippi. Procedures may make buying a business more or less expensive than simply the market value of its assets.
How Can a Harrison County Attorney Help?
There are unique requirements in Mississippi that a party purchasing a business must fulfill. In Harrison County, an attorney knowledgeable in Mississippi law can inform you about the peculiarities of your investment and outline the cheapest way for you to gain control.