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?

If a party wants to direct business operations, the best way is to acquire a right called "control". With control of a business, the party acquires all assets and the customer base of the business, plus it also assumed the company's debts. To balance the positives and negatives, the party buying a business must get a complete picture of the financial position of the business. Through a process called "due diligence", a buyer gains this understanding. The process of due diligence uses Federal and New York 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 a business will cost depends on the type of business, how much ownership stake you need to assert control, and the value of the business property. 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 Greece Attorney Help?

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