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 New Lexington 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. 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". Through due diligence, federal and Ohio guidelines are used to inform both parties, and there may be legal consequences for not following these guidelines 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 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. 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 New Lexington Attorney Help?
There are unique requirements in Ohio that a party purchasing a business must fulfill. In New Lexington, an attorney experienced in Ohio law can inform you about the peculiarities of your investment and outline the cheapest way for you to gain control.