Buying a Business in Virginia
The investing in a business can be the quickest route to a great return. Individuals and companies looking to buy businesses should be aware of the complications that can arise, however.
Specific 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?
A buyer of a business in Roanoke 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 Virginia guidelines to protect both parties. If these guidelines are not followed, a party may be found in breach of a legal duty. However, due diligence will lead to a better informed decision concerning whether you want to buy the business. Also, it will help the business to transition more smoothly to new ownership.
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. The process for how the right of control can be transferred or modified is defined by specific laws in Virginia. Procedures may make buying a business more or less expensive than simply the market value of its assets.
How Can a Roanoke Attorney Help?
Virginia poses unique demands that a party purchasing a business must meet. Attorneys practicing in Roanoke are knowledgeable in Virginia law, and can find the cheapest way for you to purchase control of a business.
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