Buy a Business in South Carolina

When a South Carolina business entity or individual plans to buy a business, it will generally be structured either as an acquisition or as a merger.

Buy A Business As An Asset

Acquisitions can be in the form of an asset purchase. This is when there is a purchase of substantially all of the assets of the selling business and the buyer may buy the seller’s assets free and clear of any liabilities, or may assume some liability. The asset purchase agreement identifies the business’ tangible property the buyer will acquire, the intangible assets, such as employment agreements and other contracts and leases, and will additionally identify the business’s trademarks. The asset purchase agreement also identifies liabilities that the buyer will agree to assume. After the closing of the sale, the business entity itself remains in the hands of the seller.

Our Charleston based business lawyers, intellectual property lawyers and team of financial professionals will effectively guide you and your business through the complexities that come with buying a business

Buy A Business As An Entity

Acquisitions can also be in the form of stock purchases (for corporations) or membership unit purchases (for LLCs). With these purchases, the buyer buys the business’ stock or units and actually takes over the business rather than just buying the merchandise or assets. In this type of purchase of business, a buyer may buy all or a portion of the stock, or membership interest, of the business. In an entity purchase, the buyer owns all the same assets and is subject to all the same liabilities that existed prior to the acquisition or purchase.

The decision to buy a business is a hard one and is fraught with complexities. Our Charleston business lawyers, intellectual property lawyers and team of financial professionals can effectively guide you and your business through these complexities and will help you buy a business.