Buying a Business in New York

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 York 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?

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 gains all assets and the customer base of the business, plus it also assumed the company's debts. A complete picture of the financial position of the business is important for the purchaser to make his decision. This picture is acquired through a process called "due diligence". Federal and New York guidelines are used in the process of due diligence, and not using these guidelines can lead to legal consequences. However, due diligence will lead to a better informed decision concerning whether you want to purchase the business. Also, it will help the business to transition more smoothly to new ownership.

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 procedure for how the right of control can be transferred or modified is defined by particular 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 Horseheads Attorney Help?

The laws in New York place many unique demands on parties seeking to purchase businesses. An attorney in Horseheads, 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.