Buying a Business in Washington
The investing in a business can be the fastest route to a great return. Individuals and companies hoping 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 Washington law.
What Parts of the Business Am I Buying?
The purchase of a business in Yakima County is actually the buying 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 buying 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. Federal and Washington guidelines are used in the process of due diligence, and not following these guidelines can lead to legal consequences. However, obedience to the process of due diligence leads to a better informed decision about buying the business. And afterwards, it may also help the ownership transfer to go more smoothly.
How Much Will the Business Cost?
The price of a business depends on the value of the ownership stake that is necessary to exert control, and this in turn is decided somewhat by the value of the business property and the type of business. There are specific 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 Yakima County Attorney Help?
In Washington, the law poses requirements for a party purchasing a business to fulfill. An attorney knowledgeable in Washington law practicing in Yakima County can help you comply with these laws and acquire control of the business you want to buy as cheaply as possible.