Buying a Business in Oklahoma
Buying a business can yield great profits in the future. However, individuals and companies seeking to buy businesses should be aware of the complications of the transaction.
Specific regulations concerning mergers, acquisitions, negotiations or securities exchanges may be implicated when you buy a business. These areas are all governed by Federal and Oklahoma law.
What Parts of the Business Am I Buying?
Buying a business in Guthrie is gaining the right to direct business operations. When a party directs operations as they see fit, their right is called ?control? of the business. Like ownership, control includes the right to all the property of the business as well as the assumption of the business debts. Accordingly, the party buying a business will want a complete picture of the financial position of the business. Through a process called "due diligence", the financials of the company are disclosed. In the process of due diligence, Federal and Oklahoma 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. There are specific laws in Oklahoma that dictate procedure for how the right of control of a company can be transferred and modified, and these procedures may make buying the business cheaper or more expensive, depending on a variety of factors.
How Can a Guthrie Attorney Help?
There are unique requirements in Oklahoma that a party purchasing a business must fulfill. In Guthrie, an attorney knowledgeable in Oklahoma law can inform you about the peculiarities of your investment and outline the cheapest way for you to gain control.