Buying a Business in Washington
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.
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 Washington law.
What Parts of the Business Am I Buying?
The purchase of a business in Thurston County is actually the purchasing of a right called "control". With this right, a party can direct business operations as it sees fit, it acquires ownership of business assets, and it assumes liability for all business 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. Through due diligence, federal and Washington guidelines are used to inform both parties, and there may be legal consequences for not following these guidelines properly. However, obedience to the process of due diligence leads to a better informed decision about purchasing the business. And afterwards, it may also help the ownership transfer to go more smoothly.
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. There are particular laws in Washington 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 Thurston County Attorney Help?
Washington poses unique demands that a party purchasing a business must meet. Lawyers practicing in Thurston County are experienced in Washington law, and can find the cheapest way for you to purchase control of a business.