Buying a Business in Oklahoma
Purchasing a business can yield great profits in the future. However, individuals and companies hoping to buy businesses should be aware of the complications of the transaction.
Particular 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?
Purchasing a business in Jenks 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 purchasing 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. The process of due diligence uses Federal and Oklahoma guidelines to protect both parties. If these guidelines are not followed, a party might be found in breach of a legal duty. 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?
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 Oklahoma. Procedures may make buying a business more or less expensive than simply the market value of its assets.
How Can a Jenks Attorney Help?
The laws in Oklahoma place many unique demands on parties seeking to purchase businesses. An attorney in Jenks, Oklahoma 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.