Buying a Business in New York

Find the right Buying a Business attorney in Ithaca, NY

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. Following the process of due diligence dutifully is the best way to inform oneself for whether to purchase 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 might add to the price as well. There are particular laws in New York 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 Ithaca Attorney Help?

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

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Life in Ithaca

Named after the Greek island of Ithaca, Ithaca New York is a charming city to live, work, and explore. Home to 30,000 residents, Ithaca is located in Central New York. The east coast city is located on the Southern end of the Cayuga Lake, which provides Ithaca with a moderate continental climate.

Ithaca is most famous for playing home to the Ivy League School, Cornell. Cornell has an undergraduate population of close to 20,000 students and the city is happy to play host to the undergraduate and graduate school campus. Not surprisingly, Ithaca has a very college town feel and a lot of the shopping, food, bars, and main street are tailored to their young students. Cornell also has a top-ranking law school that yields many top lawyers that choose to stay in Ithaca and practice law there. It is no wonder then, that Ithaca lawyers are highly sought after for their legal prowess.

Ithaca is also known for being one of the more culturally liberal towns in America. Whether it is the education, arts, musics, or museums, Ithaca is always on the cutting edge. Ithca is a wonderful town to visit any season.

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