Buying a Business in North Carolina
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 North Carolina law.
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. To make his decision, a purchaser will want a complete picture of the financial position of the business. Through a process called "due diligence", a company's financials become clear. Federal and North Carolina guidelines are used in the process of due diligence, and not using these guidelines can lead to legal consequences. However, due diligence will lead to a better informed decision concerning whether you want to purchase the business. Also, it will help the business to transition more smoothly to new ownership.
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. The procedure for how the right of control can be transferred or modified is defined by particular laws in North Carolina. Procedures may make buying a business more or less expensive than simply the market value of its assets.
How Can a Concord Attorney Help?
In North Carolina, the law poses requirements for a party purchasing a business to fulfill. An attorney experienced in North Carolina law practicing in Concord can help you comply with these laws and acquire control of the business you want to buy as cheaply as possible.
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