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 Kearney 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. Following the process of due diligence faithfully, however, leads to a better informed decision about the purchase of the business. It can also help the ownership transfer to go more smoothly.

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. There are specific laws in Nebraska 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 Kearney Attorney Help?

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