Buying a Business in Ohio

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 Ohio 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?

The purchase of a business in Greenfield is actually the buying of a right called "control". With this right, a party can direct business operations as it sees fit, it acquires ownership of business assets, and it assumes liability for all business debts. In order to protect the interests of all parties, there must be an accurate and complete picture of the financial position of the business. This picture of the company's financials is gained through a process known as "due diligence". In the process of due diligence, Federal and Ohio guidelines are used to inform both parties. If there is a deviation from these guidelines, one party may be held legally accountable. 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?

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 process for how the right of control can be transferred or modified is defined by specific laws in Ohio. Procedures may make buying a business more or less expensive than simply the market value of its assets.

How Can a Greenfield Attorney Help?

The laws in Ohio place many unique demands on parties seeking to purchase businesses. An attorney in Greenfield, Ohio 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.