Buying a Business in Ohio

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 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 Hillsboro is actually the purchasing 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 acquired through a process known as "due diligence". Federal and Ohio guidelines define the process of due diligence, and occasionally legal consequences arise when these procedures are not followed properly. Following the procedure 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 a business will cost varies on the type of business, how much ownership stake you need to assert control, and the value of the business property. The procedure for how the right of control can be transferred or modified is defined by particular laws in Ohio. Procedures may make buying a business more or less expensive than simply the market value of its assets.

How Can a Hillsboro Attorney Help?

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