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.

Purchasing a business occasionally 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 purchaser of a business in New Martinsville 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 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. The process of due diligence uses Federal and West Virginia guidelines to protect both parties. If these guidelines are not followed, a party might be found in breach of a legal duty. 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 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 New Martinsville Attorney Help?

There are unique requirements in West Virginia that a party purchasing a business must fulfill. In New Martinsville, an attorney experienced in West Virginia law can inform you about the peculiarities of your investment and outline the cheapest way for you to purchase control.