A Business Story at a Glance: From Idea to Acquisition

A Business Story at a Glance: From Idea to Acquisition

forming a corporationIf you want to start a business, a business attorney in Orlando can help you figure out the important steps to starting your business. You don’t have to do this alone.

How to Start a Business

Once you have your business idea, before going any further, it is recommended that you carry out a pre-feasibility study. A pre-feasibility study is a small research or market study where market information is quickly collected, and data is analyzed in order to get a preliminary idea of the feasibility of a business idea before moving on to a more formal study.

To carry out your pre-feasibility study you could hire the services of one of the best Central Florida business lawyers to help with providing some guidance along the way, but you could also try to:

Visit local shopping centers, galleries, market, and other places where products or services similar to the ones you want to sell are sold and analyze if there is enough demand for these products or services in your area.

Once you have concluded that your business idea may be feasible, or has a chance of success, the next thing you could do is make one of the most important decisions you must make when starting a business and that is choosing the name of your business and deciding on the type of business entity you will want to operate under. An Orlando business lawyer can help you with that process as well. This means choosing whether to do a sole proprietorship, a limited liability company or a corporation. You can then choose the location of your business and then define the target market.

Other things to do are create a business plan, conduct market research, and seek financing, whether from family or friends or from a financial institution.

How to Have a Successful Acquisition?

If you don’t want to start a business from scratch, the next best thing is to pursue a successful business acquisition. Once the acquisition of a business has been decided, it is important that the personnel of the acquiring company and their advisers conduct proper due diligence and identify the risks with the greatest impact in order to map the needs and plan the resources that will be required. The buyer must conduct adequate inspections and due diligence on the real and personal property, the assets, the books, and the records of the business being acquired. The buyer must also perform the analysis of the transaction to identify relevant issues, such as amount, contingent considerations, contingent liabilities, control issues from the perspective of the applicable accounting standard, among others. The purchase contract should ensure that the seller fully cooperate with the buyer in buyer’s conducting of inspections and due diligence in connection with the potential acquisition of the business. The ultimate goal is to conduct enough due diligence so that the buyer feels comfortable with what he or she is acquiring.

How a Lawyer Can Help Throughout the Entire Process

If you want to streamline the process and have fewer headaches throughout the process, then you should hire an Orlando Business Attorney to help you from the start-up phase to create and register your business entity and even provide guidance with your business plan and execution. For the business acquisition, as you can see, it can be quite complex and that is where the Central Florida business attorney comes in. One such is Nishad Khan P.L. that you can contact for help with properly acquiring a business in good financial standing and negotiating with the seller on your behalf.

The Orlando Real Estate Attorneys at the Law Offices of Nishad Khan P.L. serve clients with Residential, Commercial, and Investment Real Estate Transactions. Let our expertise in Central Florida Real Estate help you.