Buying a Business in Virginia

The investing in a business can be the shortest route to a great return. Individuals and companies seeking to buy businesses should be aware of the complications that can arise, however.

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 Virginia law.

What Parts of the Business Am I Buying?

Purchasing a business in Abingdon 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. 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 Virginia guidelines are used to inform both parties, and there may be legal consequences for not following these guidelines properly. 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?

The cost of a business mostly depends on how much ownership stake is required for control. The value of the business property and the type of business are also important factors. The procedure for how the right of control can be transferred or modified is defined by particular laws in Virginia. Procedures may make buying a business more or less expensive than simply the market value of its assets.

How Can a Abingdon Attorney Help?

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