Buying a Business in West 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.
Buying a business sometimes involves laws concerning mergers, acquisitions, negotiations or securities exchanges. These fields are governed by West Virginia and Federal law.
What Parts of the Business Am I Buying?
A buyer of a business in Keyser 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. 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. Through due diligence, federal and West 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 purchased.
How Much Will the Business Cost?
How much the right of control will cost depends on how much ownership stake is required. The value of the property of the business may add to the price as well. There are specific laws in West 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 Keyser Attorney Help?
West Virginia poses unique demands that a party purchasing a business must meet. Attorneys practicing in Keyser are knowledgeable in West Virginia law, and can find the cheapest way for you to purchase control of a business.