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.

There are particular 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 purchases a business in Rensselear County, 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. To make his decision, a purchaser will want a complete picture of the financial position of the business. Through a process called "due diligence", a company's financials become clear. In the process of due diligence, Federal and New York guidelines are used to inform both parties. If there is a violation from these guidelines, one party may be held legally accountable. 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?

The cost of a business mostly depends on how much ownership stake is required for control. The value of the business property and the type of business are also important factors. 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 Rensselear County Attorney Help?

New York poses unique demands that a party purchasing a business must meet. Lawyers practicing in Rensselear County are experienced in New York law, and can find the cheapest way for you to purchase control of a business.