How to Take Over a Company
Taking over any company is never easy for anyone. The difficulty of getting things in order and dealing with the red tape in a takeover is truly a complicated process. It requires dealing with red tape and registration of property and name and dealing with the labor force.
To help you cope with the stress of a takeover, here are a few tips in taking over a company.
Taking over anything has never been easy for anyone. Whether it is taking over an office, a new job, a position or a business, change always brings about hardships on everyone. Such difficulty increases if such take over entails that certain procedure be followed. It is doubly difficult if other people are affected by the change as well. To help you ease the difficulty of a take over, here are a few tips in taking over a company.
In the eyes of the law there are generally three categories of businesses or companies: the sole proprietorship, the partnership and the corporation. Each of these kinds of businesses has their own requirements and regulations for formation and creation. The same goes true for their termination or when they are taken over. Of course, each state may have its own set of rules for the creation, formation and termination of businesses.
Sole proprietorship, as the term may imply, means that the business is owned, operated and controlled by one person or family. Taking over a sole proprietor business is easier than the other kinds of businesses as one only needs to contract and agree with the owner of the business for the sale of such business. Usually the take over of the company, in any of the three kinds, may be because it is a sale or as payment for a debt. In either case, a contract is drafted and signed for the purpose. Some states require registration of such take over while others do not.
Taking over a partnership is more complicated because this kind of business is peculiar than the other kinds of businesses and is generally widely regulated. To take over such business the partners of the company must agree to the take over of the business. Oftentimes the articles of partnership, which is the contract between the partners, would indicate the protocol to follow in taking over the partnership. Of course, there would be filing in the appropriate government regulatory board. If it is a corporation, taking over means owning majority of the capital stock of the corporation or all of the stocks of the corporation. Registration of such take over is also necessary.
Take over of any of these businesses means acquisition of their assets as well. This means ownership of the company’s properties. There may be a need to transfer registration of the property as well. Take over of a company generally does not mean forced take over of the work force. The new owner oftentimes has free reign on whether he/she wants to re-hire the former employees.
10 Comments
- Tips to take over HMT Ltd by Mahindra & Mahindra Ltd. Procedure to take over, Reasons, etc
- one sole proprietorship firm named Dhanwantri Enterprises having vat, cst, epf, esic, service tax no. i and proprietor of Dhanwantri Enterprises both have formed pvt ltd. how can we used or takeover or purchase of Dhanwantri enterprises thus all license, goodwill and number of firm vat, cst, epf, esic, service tax no will not changed
- We have setup newly Laboratories franchise under SRL, at Aizawl, so kindly guide in this matter whether does it need to register for VAT or CST.
- if i have 10% of shares of any company then i will in board of directors?.
- how to take over company? is this possible pls help? Regards Dinesh 8767829011
- we are leading manufacturers of stone crusher in tamilnadu, we are expecting a takeover of our company pl suggest..
- We provide business Buying/ Selling services in India right from all legal support to final takeovers. Pl feel free to write for any support required at BusinessShoppeIndia@gmail.com
- Friends, Looking to buy a healthy pharmaceutical marketing company in the state of Kerala, India. All the brands must be registered. Forward the details and your cell/office number, I will call you after consulting with my mentor and partners. This is a sincere and serious message, kindly do not waste your time and my time. Regards
- In your article you have mentioned that while taking over the company, there may be a need to transfer and register the properties of the company also. Please clarify if I keep the same name of the company as existing prior to take over, whether registration of the properties are to be treated as transfer and registration compulsory?
- Dear Sir, I want to start a food company in A.P I want to take over a big rice industries it is closed I want to start in this unit with the help of govt of AP. can YOU HELP THE PROCESS? challapalli, krishna (Dt) Andhra PRADESH.
Comment
Categories
- Franchise Opportunities
- Wholesale Business Opportunities
- Small Manufacturing Business
- Farming Business Ideas
- Unique Business Opportunities
- Shop Business Ideas
- Small Business Opportunities
- Startup Company Ideas
- Home Based Business Opportunity
- Rural Business Opportunities
- Tips for Buying and Selling
- Starting Rental Business
- Ideas for Small Business
- Free Business Ideas
- Internet Business Ideas
- Store Business Opportunities
- Entrepreneur Business Idea
- Retail Store Ideas
- Service Business Ideas
- Advice for Small Business
- Financing a Small Business
- Restaurant Business Opportunities
- Small Business Articles
- Business Marketing and Advertising
- Repair Business Opportunity
- Professional Career Opportunities
- Business Insurance Information
- Instructor Guides
