The Rick Fox Basketball School of Acting

Buying a Business, Legal Responsibilities

If you are looking to buy a business, you should first consider all the possible ways of buying one. However, no matter which method of buying you end up using, you will have to deal with certain legal responsibilities that come with owning a business.

First of all, you have to do a careful research about the business that you are buying, get to know what exactly the business is doing, who is the current owner and what the general public thinks of that business. That will give you an idea what will be your responsibilities and duties when you purchase it. You have to address all of these concerns long before you make any move or before the paperwork is done.


There are certain responsibilities that are coming with all types of businesses and they are well known. However, there are some responsibilities that may not be present when you are looking to buy the business. These responsibilities can be anything from employees, incidents, creation of harmful products, various dangers in the building or even some tax responsibilities. You have to realize these issues immediately or at least before making the purchase. If you don’t deal with these issues before you purchase the business, there could be a chance that the business will bankrupt. In those situations, you have to be prepared and have some other source of income. You can start using the HBSwiss software, that is specially designed to make successful trades.

Responsibilities of the Successor

As mentioned before, when buying a new business, you should research it thoroughly to avoid some unexpected responsibilities that might transfer to you at the moment the process of purchasing is finalized. These issues usually are related to the previous owner of the business and they are transferred to you when you bought it. The worst scenarios are when a business is in huge depth, that means that the owner must pay it off.

Legal Help When Purchasing Business

When you are buying a new business or company, it is crucial to have a professional business lawyer that will help you through the process. Even if you think that you can handle everything by yourself, it is recommended a help from a lawyer because he will take care of every legal paperwork to be filled out properly. He will make sure that the contract you are signing is valid and that is beneficial to you.

Former NBA player Rick Fox caught the acting bug in 1994 when he landed a role in Blue Chips. Hes since gone on to appear on HBOs Oz and with the ladies of Wisteria Lane on Desperate Housewives. In Oct. of 2009 Rick hooked up with the Acme Company improv comedy troupe to give humor a try. He looks like hes prepping to host Saturday Night Live.

The Rick Fox Basketball School of Acting:

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