Buying a Business in New Jersey

Purchasing 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 occasionally come into play during the purchase of a business

What Parts of the Business Am I Buying?

When someone purchases a business in Somers Point, 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. Accordingly, the party purchasing 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. Federal and New Jersey guidelines are used in the process of due diligence, and not using these guidelines can lead to legal consequences. However, obedience to the process of due diligence leads to a better informed decision about purchasing the business. And afterwards, it may 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 particular 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 Somers Point Attorney Help?

New Jersey poses unique demands that a party purchasing a business must meet. Lawyers practicing in Somers Point are experienced in New Jersey law, and can find the cheapest way for you to purchase control of a business.