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?

The purchase of a business in Point Pleasant 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. In order to protect the interests of all parties, there must be an accurate and complete picture of the financial position of the business. This picture of the company's financials is acquired through a process known as "due diligence". Federal and West Virginia guidelines are used in the process of due diligence, and not using these guidelines can lead to legal consequences. Following the process of due diligence dutifully is the best way to inform oneself for whether to purchase a business. Also if the business is eventually bought, transfers of ownership happen much more easily once the process is followed.

How Much Will the Business Cost?

How much a business will cost varies on the type of business, how much ownership stake you need to assert control, and the value of the business property. The procedure for how the right of control can be transferred or modified is defined by particular laws in West Virginia. Procedures may make buying a business more or less expensive than simply the market value of its assets.

How Can a Point Pleasant Attorney Help?

West Virginia poses unique demands that a party purchasing a business must meet. Lawyers practicing in Point Pleasant are experienced in West Virginia law, and can find the cheapest way for you to purchase control of a business.