Buying a Business in Pennsylvania

Purchasing a business can yield great profits in the future. However, individuals and companies looking to buy businesses should be aware of the complications of the transaction.

Purchasing a business occasionally involves laws concerning mergers, acquisitions, negotiations or securities exchanges. These fields are governed by Pennsylvania and Federal law.

What Parts of the Business Am I Buying?

A purchaser of a business in State College gains a right called "control", which is the right to direct the business operations as they see fit. Control involves ownership of the business assets and customers, along with the company's 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. Federal and Pennsylvania guidelines are used in the process of due diligence, and not using these guidelines can lead to legal consequences. However, the best informed decision about whether to buy the business can only be obtained through obedience to the due diligence process. Added benefits also include a smoother transition once the business is bought.

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 Pennsylvania. Procedures may make buying a business more or less expensive than simply the market value of its assets.

How Can a State College Attorney Help?

Pennsylvania poses unique demands that a party purchasing a business must meet. Lawyers practicing in State College are experienced in Pennsylvania law, and can find the cheapest way for you to purchase control of a business.