Buying a Business in Utah

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.

There are specific laws in Utah 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?

A buyer of a business in Bluffdale 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. To balance the positives and negatives, the party buying a business must get a complete picture of the financial position of the business. Through a process called "due diligence", a buyer gains this understanding. The process of due diligence uses Federal and Utah guidelines to protect both parties. If these guidelines are not followed, a party may be found in breach of a legal duty. Following the process of due diligence dutifully is the best way to inform oneself for whether to buy a business. Also if the business is eventually bought, transfers of ownership happen much more easily once the process is followed.

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 may add to the price as well. There are specific laws in Utah 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 Bluffdale Attorney Help?

Utah poses unique demands that a party purchasing a business must meet. Attorneys practicing in Bluffdale are knowledgeable in Utah law, and can find the cheapest way for you to purchase control of a business.