Buying a Business in New York

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 York 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?

Buying a business in Albion is gaining the right to direct business operations. When a party directs operations as they see fit, their right is called ?control? of the business. Like ownership, control includes the right to all the property of the business as well as the assumption of the 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. Through due diligence, federal and New York guidelines are used to inform both parties, and there may be legal consequences for not following these guidelines properly. 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. The process for how the right of control can be transferred or modified is defined by specific laws in New York. Procedures may make buying a business more or less expensive than simply the market value of its assets.

How Can a Albion Attorney Help?

The laws in New York place many unique demands on parties seeking to purchase businesses. An attorney in Albion, New York can inform you of the particularities of your investment as it relates to local law, as well as advise you of the least costly route to acquiring control.