Buying a Business in Nebraska
Buying a business can be a worthwhile investment, but whether it is purchased by an individual or another company, the transaction is complicated.
Buying a business sometimes involves laws concerning mergers, acquisitions, negotiations or securities exchanges. These fields are governed by Nebraska and Federal law.
What Parts of the Business Am I Buying?
The purchase of a business in Hastings 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. Accordingly, the party buying a business will want a complete picture of the financial position of the business. Through a process called "due diligence", the financials of the company are disclosed. In the process of due diligence, Federal and Nebraska guidelines are used to inform both parties. If there is a deviation from these guidelines, one party may be held legally accountable. 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?
The price 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 process for how the right of control can be transferred or modified is defined by specific laws in Nebraska. Procedures may make buying a business more or less expensive than simply the market value of its assets.
How Can a Hastings Attorney Help?
There are unique requirements in Nebraska that a party purchasing a business must fulfill. In Hastings, an attorney knowledgeable in Nebraska law can inform you about the peculiarities of your investment and outline the cheapest way for you to purchase control.