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 Weirton 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. A complete picture of the financial position of the business is important for the purchaser to make his decision. This picture is acquired through a process called "due diligence". 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. Following the procedure of due diligence faithfully, however, leads to a better informed decision about the purchase of the business. It can 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 determined somewhat by the value of the business property and the type of business. 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 Weirton Attorney Help?
There are unique requirements in West Virginia that a party purchasing a business must fulfill. In Weirton, 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.