There may be actions in the prior business that will not Business law 101 apparent until later that will have an effect on the reputation. As you can see, the initial planning is not simple.
Aside from the issue of not being able to cover the cost of the business, there are legal reasons for this question. If you want to buy an existing business, how much will it cost? Al Kelley is a Florida business law attorney located in Key West and previously taught business law, personnel law and labor law at St.
The goodwill may be different than expected, resulting in a higher or lower value. There is an old adage that everything is for sale at the right price, but the right price might be too high. How much are you willing to invest?
Are there unstated problems? If you have any questions about legal issues, you should confer with a licensed Florida attorney. And do you know anything about the type of business you want to open?
While it is helpful to know what type of business you want to start, it is not always required. There are countless issues to consider when making these initial decisions. How will you attract new customers?
If however you are planning on starting the business from scratch, failure to know the industry in advance is a recipe for failure.
Yet, it need to be done, and done in detail. Also, if a person is willing to sell an existing business, you should wonder why they are willing to sell.
For those willing to do the work and study the industry, knowledge of the industry is not required. If you are interested in starting your own business, there are start-up costs that must be considered.
Is the business not as successful as they imply? How easy will it be to get financing? You must ensure that you have enough capital to cover the business through opening and preferably for the first several moths of operations until the business can cover its own costs.
Does the business you want open already exist? Do you want to open a particular type of business?Business Law / Starting a New Business. By Albert L. Kelley. Let’s start with initial planning. While it is helpful to know what type of business you want to. Business Introductory Business Law has been evaluated and recommended for 3 semester hours and may be transferred to over 2, colleges and.
Study 85 Business Law flashcards from Ryan O. on StudyBlue. Term: Foreign Corporation Definition: In a given state, a corporation that does business in the state without being incorporated therein.
Term: Alien Corporation Definition: A designation in the U.S. for a corporation formed in another country but. Learn business law with free interactive flashcards. Choose from different sets of business law flashcards on Quizlet.
Study Belmont University Business Law flashcards and notes. Conquer your course and sign up for free today!Download