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 Annandale 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?
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 particular laws in Virginia 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 Annandale Attorney Help?
In Virginia, the law poses requirements for a party purchasing a business to fulfill. An attorney experienced in Virginia law practicing in Annandale can help you comply with these laws and acquire control of the business you want to buy as cheaply as possible.