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.

There are specific laws in New York and the US that concern negotiations, mergers, acquisitions and securities exchanges. You may need to consider how these laws impact your situation before you buy a business.

What Parts of the Business Am I Buying?

When someone buys a business in Oceanside, 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. A complete picture of the financial position of the business is important for the buyer to make his decision. This picture is gained through a process called "due diligence". 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 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?

How much the right of control will cost depends on how much ownership stake is required. The value of the property of the business may add to the price as well. 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 Oceanside Attorney Help?

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