Buying a Business in New Jersey

Buying a business can be a worthwhile investment, but whether it is purchased by an individual or another company, the transaction is complicated.

Federal and New Jersey law concerning mergers, acquisitions, negotiations and securities exchange sometimes come into play during the purchase of a business

What Parts of the Business Am I Buying?

When someone buys a business in Ocean County, they are actually gaining the right to direct business operations as they see fit. This right is called ?control? of the business. Control entails ownership of all the assets and customer base of the business, but it also includes the responsibility for that company?s debts and liabilities. 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". The process of due diligence uses Federal and New Jersey guidelines to protect both parties. If these guidelines are not followed, a party may be found in breach of a legal duty. Following the process of due diligence dutifully is the best way to inform oneself for whether to buy a business. Also if the business is eventually bought, transfers of ownership happen much more easily once the process is followed.

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. There are specific laws in New Jersey 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 Ocean County Attorney Help?

There are unique requirements in New Jersey that a party purchasing a business must fulfill. In Ocean County, an attorney knowledgeable in New Jersey law can inform you about the peculiarities of your investment and outline the cheapest way for you to gain control.