Buying a Business in Mississippi
Purchasing a business can be a worthwhile investment, but whether it is purchased by an individual or another company, the transaction is complicated.
Particular 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 Olive Branch is actually the purchasing 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 purchaser to make his decision. This picture is acquired through a process called "due diligence". Federal and Mississippi guidelines define the process of due diligence, and occasionally legal consequences arise when these procedures are not followed properly. 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?
The cost of a business mostly depends on how much ownership stake is required for control. The value of the business property and the type of business are also important factors. The procedure for how the right of control can be transferred or modified is defined by particular laws in Mississippi. Procedures may make buying a business more or less expensive than simply the market value of its assets.
How Can a Olive Branch Attorney Help?
In Mississippi, the law poses requirements for a party purchasing a business to fulfill. An attorney experienced in Mississippi law practicing in Olive Branch can help you comply with these laws and acquire control of the business you want to buy as cheaply as possible.